United States Oil Fund Target of Unusually High Options Trading (NYSEARCA:USO)

United States Oil Fund LP (NYSEARCA:USOGet Free Report) was the target of some unusual options trading activity on Wednesday. Investors purchased 69,110 call options on the company. This is an increase of 70% compared to the average daily volume of 40,720 call options.

United States Oil Fund Trading Up 0.5 %

Shares of USO stock traded up $0.38 on Wednesday, reaching $81.17. The company’s stock had a trading volume of 2,635,207 shares, compared to its average volume of 4,452,725. The stock’s fifty day simple moving average is $73.90 and its 200-day simple moving average is $73.01. United States Oil Fund has a 1 year low of $59.78 and a 1 year high of $83.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Scotia Capital Inc. purchased a new position in shares of United States Oil Fund in the third quarter valued at $666,000. Mariner LLC boosted its stake in United States Oil Fund by 58.5% during the third quarter. Mariner LLC now owns 13,117 shares of the company’s stock worth $1,061,000 after buying an additional 4,840 shares during the period. Commonwealth Equity Services LLC boosted its stake in United States Oil Fund by 1.2% during the third quarter. Commonwealth Equity Services LLC now owns 30,893 shares of the company’s stock worth $2,498,000 after buying an additional 362 shares during the period. Opal Wealth Advisors LLC purchased a new position in United States Oil Fund during the third quarter worth $203,000. Finally, Moors & Cabot Inc. purchased a new position in United States Oil Fund during the third quarter worth $220,000.

United States Oil Fund Company Profile

(Get Free Report)

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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