SG Americas Securities LLC Invests $1.14 Million in United States Oil Fund LP $USO

SG Americas Securities LLC purchased a new position in shares of United States Oil Fund LP (NYSEARCA:USO) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 15,433 shares of the company’s stock, valued at approximately $1,138,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd increased its position in United States Oil Fund by 1,005.7% during the 2nd quarter. Quadrature Capital Ltd now owns 342,680 shares of the company’s stock worth $25,053,000 after buying an additional 311,687 shares during the period. Jump Financial LLC grew its stake in shares of United States Oil Fund by 67.3% in the second quarter. Jump Financial LLC now owns 131,279 shares of the company’s stock valued at $9,598,000 after acquiring an additional 52,830 shares in the last quarter. JPMorgan Chase & Co. increased its position in United States Oil Fund by 65.1% during the second quarter. JPMorgan Chase & Co. now owns 66,225 shares of the company’s stock worth $4,842,000 after acquiring an additional 26,102 shares during the period. AlphaQuest LLC bought a new position in United States Oil Fund during the second quarter worth about $1,211,000. Finally, Cetera Investment Advisers raised its stake in United States Oil Fund by 29.5% in the 2nd quarter. Cetera Investment Advisers now owns 14,940 shares of the company’s stock worth $1,092,000 after purchasing an additional 3,401 shares in the last quarter. 67.47% of the stock is owned by institutional investors and hedge funds.

Key United States Oil Fund News

Here are the key news stories impacting United States Oil Fund this week:

• Positive Sentiment: Heightened supply-risk focus (possible U.S.-Iran escalation) is supporting oil prices and boosts ETFs tied to crude futures. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds As Traders Focus On Supply Risks
• Positive Sentiment: The U.S. Department of Energy is exploring a swap that would trade heavy Venezuelan oil for U.S. medium crude to fill the Strategic Petroleum Reserve — SPR activity tends to underpin oil prices by removing crude from the market. Exclusive: US explores plan to swap heavy Venezuelan oil for U.S. medium crude to fill emergency reserve, sources say
• Neutral Sentiment: The Venezuelan government has authorized banks to sell $300M of oil revenue on the exchange market — this improves dollar liquidity for Venezuelan firms but the near-term impact on exports and global supply is uncertain. Venezuelan banks will get $300 million of oil money to sell on exchange market, sources say
• Neutral Sentiment: U.S. industrial output data and intraday market moves have kept oil volatile but not decisively directional — short-term technicals are providing mixed signals for crude ETFs. Crude Oil Gains 1%; US Industrial Output Rises In December
• Negative Sentiment: Signs that the likelihood of a U.S. strike on Iran has receded have removed some risk premium, putting downward pressure on oil and on funds that track crude. Oil flat as chances of US strike on Iran recedes
• Negative Sentiment: Comments from U.S. officials and subsequent sales of Venezuelan crude (including an initial ~$500M sale) increase available supply, which can weigh on prices despite some favorable pricing for U.S. sellers. Venezuela oil fetching 30% higher price, U.S. energy chief says, after first sale worth $500 million

United States Oil Fund Stock Up 0.7%

Shares of NYSEARCA:USO opened at $71.65 on Friday. The company’s 50 day moving average price is $70.11 and its two-hundred day moving average price is $72.58. United States Oil Fund LP has a 12-month low of $60.67 and a 12-month high of $83.57. The firm has a market cap of $975.87 million, a PE ratio of 19.22 and a beta of 0.40.

United States Oil Fund 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.