United States Oil Fund (NYSEARCA:USO) Shares Gap Up – Time to Buy?

Shares of United States Oil Fund LP (NYSEARCA:USO) gapped up prior to trading on Monday . The stock had previously closed at $68.48, but opened at $69.85. United States Oil Fund shares last traded at $69.9320, with a volume of 469,966 shares trading hands.

United States Oil Fund Stock Up 2.3%

The stock has a 50 day moving average of $70.45 and a 200 day moving average of $73.27. The company has a market capitalization of $919.41 million, a price-to-earnings ratio of 19.22 and a beta of 0.40.

Institutional Investors Weigh In On United States Oil Fund

Institutional investors have recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of United States Oil Fund during the third quarter worth $57,000. XTX Topco Ltd boosted its position in United States Oil Fund by 90.1% during the third quarter. XTX Topco Ltd now owns 9,140 shares of the company’s stock valued at $674,000 after acquiring an additional 4,333 shares during the last quarter. Prelude Capital Management LLC bought a new stake in United States Oil Fund during the third quarter valued at $442,000. Mariner LLC grew its holdings in United States Oil Fund by 4.0% during the 3rd quarter. Mariner LLC now owns 8,844 shares of the company’s stock worth $652,000 after acquiring an additional 340 shares during the period. Finally, Flow Traders U.S. LLC bought a new position in shares of United States Oil Fund in the 3rd quarter worth about $3,062,000. 67.47% of the stock is owned by institutional investors.

United States Oil Fund Company Profile

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.