Kovitz Investment Group Partners LLC Takes Position in United States Oil Fund LP (NYSEARCA:USO)

Kovitz Investment Group Partners LLC purchased a new position in shares of United States Oil Fund LP (NYSEARCA:USO) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 40,811 shares of the company’s stock, valued at approximately $2,829,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of United States Oil Fund during the second quarter worth approximately $28,422,000. International Assets Investment Management LLC increased its stake in United States Oil Fund by 2,024.3% during the 3rd quarter. International Assets Investment Management LLC now owns 147,531 shares of the company’s stock worth $10,315,000 after acquiring an additional 140,586 shares during the period. Clearline Capital LP acquired a new position in United States Oil Fund in the 3rd quarter valued at $5,323,000. Toronto Dominion Bank bought a new stake in shares of United States Oil Fund during the 2nd quarter valued at $2,867,000. Finally, TOMS Capital Investment Management LP acquired a new stake in shares of United States Oil Fund during the 3rd quarter worth $2,328,000.

United States Oil Fund Stock Up 1.4 %

USO stock opened at $71.21 on Tuesday. United States Oil Fund LP has a 52 week low of $63.84 and a 52 week high of $83.41. The business has a 50-day simple moving average of $72.95 and a 200 day simple moving average of $74.60. The company has a market cap of $1.23 billion, a PE ratio of 22.97 and a beta of 0.10.

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.