United States Oil Fund (NYSEARCA:USO) Reaches New 1-Year Low at $59.96

United States Oil Fund LP (NYSEARCA:USOGet Rating) reached a new 52-week low during trading on Wednesday . The company traded as low as $59.96 and last traded at $60.35, with a volume of 2250663 shares. The stock had previously closed at $62.93.

United States Oil Fund Stock Up 0.0 %

The stock has a fifty day moving average of $67.82 and a 200 day moving average of $69.10.

Institutional Trading of United States Oil Fund

Several hedge funds have recently modified their holdings of USO. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of United States Oil Fund during the 1st quarter worth approximately $259,000. US Bancorp DE raised its holdings in shares of United States Oil Fund by 581.4% during the 1st quarter. US Bancorp DE now owns 8,245 shares of the company’s stock worth $611,000 after acquiring an additional 7,035 shares in the last quarter. Prudential PLC purchased a new stake in shares of United States Oil Fund during the 1st quarter worth approximately $333,000. NewEdge Advisors LLC raised its holdings in shares of United States Oil Fund by 14.5% during the 1st quarter. NewEdge Advisors LLC now owns 21,140 shares of the company’s stock worth $1,567,000 after acquiring an additional 2,678 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new stake in shares of United States Oil Fund during the 1st quarter worth approximately $505,000.

About United States Oil Fund

(Get Rating)

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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