United States Oil Fund (NYSEARCA:USO) Shares Gap Up to $75.55

Shares of United States Oil Fund LP (NYSEARCA:USO) gapped up before the market opened on Monday . The stock had previously closed at $75.55, but opened at $78.07. United States Oil Fund shares last traded at $78.20, with a volume of 761,928 shares.

United States Oil Fund Stock Performance

The firm has a market capitalization of $1.35 billion, a P/E ratio of 22.97 and a beta of 0.10. The company has a 50-day moving average price of $77.73 and a 200-day moving average price of $76.77.

Hedge Funds Weigh In On United States Oil Fund

A number of large investors have recently bought and sold shares of the company. Vermillion & White Wealth Management Group LLC bought a new stake in shares of United States Oil Fund during the fourth quarter worth approximately $44,000. CWM LLC lifted its holdings in shares of United States Oil Fund by 45.9% during the 4th quarter. CWM LLC now owns 1,192 shares of the company’s stock worth $79,000 after acquiring an additional 375 shares during the period. Principal Securities Inc. acquired a new stake in United States Oil Fund in the fourth quarter valued at about $107,000. St. Johns Investment Management Company LLC acquired a new stake in shares of United States Oil Fund during the first quarter valued at about $110,000. Finally, Clear Investment Research LLC raised its holdings in United States Oil Fund by 44.3% in the 2nd quarter. Clear Investment Research LLC now owns 1,589 shares of the company’s stock valued at $126,000 after buying an additional 488 shares during the last quarter.

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.