United States Oil Fund (NYSEARCA:USO) Shares Gap Down – Here’s Why

United States Oil Fund LP (NYSEARCA:USO)’s share price gapped down prior to trading on Monday. The stock had previously closed at $168.83, but opened at $159.52. United States Oil Fund shares last traded at $158.64, with a volume of 2,533,132 shares.

United States Oil Fund Stock Performance

The company’s fifty day moving average price is $150.09 and its 200 day moving average price is $123.26. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 19.22 and a beta of 0.01.

Insider Transactions at United States Oil Fund

In related news, major shareholder Financial Lp Hrt bought 101,212 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was bought at an average cost of $158.02 per share, for a total transaction of $15,993,520.24. Following the completion of the purchase, the insider directly owned 61,589 shares in the company, valued at approximately $9,732,293.78. The trade was a -255.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have bought 148,833 shares of company stock valued at $23,385,278 and have sold 95,353 shares valued at $14,737,344.

Institutional Trading of United States Oil Fund

Several hedge funds have recently made changes to their positions in the stock. Hamilton Wealth LLC acquired a new position in United States Oil Fund during the 1st quarter valued at approximately $55,001,000. Bank of America Corp DE increased its stake in shares of United States Oil Fund by 117.1% during the first quarter. Bank of America Corp DE now owns 143,881 shares of the company’s stock valued at $18,309,000 after acquiring an additional 77,617 shares during the period. Parker Investment Management LLC acquired a new position in shares of United States Oil Fund during the 1st quarter valued at $6,364,000. Arkadios Wealth Advisors acquired a new position in shares of United States Oil Fund during the 1st quarter valued at $5,326,000. Finally, Franchise GP Ltd acquired a new position in shares of United States Oil Fund during the 3rd quarter valued at $5,953,000. Institutional investors own 67.47% of the company’s stock.

United States Oil Fund Company Profile

United States Oil Fund, LP (USO) is a commodity pool that issues limited partnership interests (shares) traded on the NYSE Arca, Inc (the NYSE Arca). The investment objective of USO is for the daily changes in percentage terms of its shares’ per share net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the price of the futures contract for light, sweet crude oil traded on the New York Mercantile Exchange, that is the near month contract to expire, except when the near month contract is within over two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire, less USO’s expenses.