United States Oil Fund (NYSEARCA:USO) Sees Large Volume Increase

Shares of United States Oil Fund LP (NYSEARCA:USO – Get Rating) saw an uptick in trading volume on Friday . 6,023,302 shares traded hands during mid-day trading, an increase of 81% from the previous session’s volume of 3,327,961 shares.The stock last traded at $59.29 and had previously closed at $60.05.

United States Oil Fund Price Performance

The firm’s 50-day simple moving average is $67.60 and its 200 day simple moving average is $68.90.

Institutional Trading of United States Oil Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of United States Oil Fund in the fourth quarter valued at approximately $26,000. EWG Elevate Inc. purchased a new position in United States Oil Fund during the fourth quarter valued at approximately $32,000. Hudock Inc. purchased a new position in United States Oil Fund during the third quarter valued at approximately $39,000. Hollencrest Capital Management purchased a new position in United States Oil Fund during the fourth quarter valued at approximately $39,000. Finally, Clear Investment Research LLC purchased a new position in United States Oil Fund during the third quarter valued at approximately $43,000.

United States Oil Fund Company Profile

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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.