United States Oil Fund LP (NYSEARCA:USO) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 64,596,187 shares, a drop of 6.5% from the February 15th total of 69,118,578 shares. Based on an average trading volume of 18,430,230 shares, the days-to-cover ratio is presently 3.5 days.
Institutional investors have recently modified their holdings of the stock. IFG Advisory LLC acquired a new position in United States Oil Fund in the fourth quarter valued at $170,000. AE Wealth Management LLC boosted its holdings in United States Oil Fund by 43.1% in the fourth quarter. AE Wealth Management LLC now owns 14,424 shares of the company’s stock valued at $173,000 after acquiring an additional 4,343 shares during the last quarter. Clarus Wealth Advisors acquired a new position in United States Oil Fund in the fourth quarter valued at $194,000. SNS Financial Group LLC acquired a new position in United States Oil Fund in the fourth quarter valued at $249,000. Finally, Tower Research Capital LLC TRC boosted its holdings in United States Oil Fund by 25,114.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 29,501 shares of the company’s stock valued at $354,000 after acquiring an additional 29,384 shares during the last quarter.
United States Oil Fund (USO) opened at $12.28 on Thursday. United States Oil Fund has a fifty-two week low of $8.65 and a fifty-two week high of $13.30. The firm has a market capitalization of $1,820.00 and a price-to-earnings ratio of -5.01.
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About United States Oil Fund
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.
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