United States Oil Fund (NYSEARCA:USO) Shares Down 4.2% – Here’s What Happened

United States Oil Fund LP (NYSEARCA:USO) shares traded down 4.2% during trading on Wednesday . The stock traded as low as $145.68 and last traded at $146.48. 2,463,099 shares changed hands during trading, a decline of 90% from the average session volume of 24,987,289 shares. The stock had previously closed at $152.96.

United States Oil Fund News Roundup

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

• Positive Sentiment: U.S. crude inventories fell by 7.9 million barrels last week, a much larger draw than analysts expected, signaling tighter near-term supply for oil. U.S. Crude Oil Stockpiles Post Fourth Straight Weekly Draw
• Positive Sentiment: The EIA also reported that U.S. crude and gasoline inventories fell last week, reinforcing the idea that demand remains solid and supplies are tightening. US crude and gasoline inventories fell last week, distillates rose – EIA says
• Positive Sentiment: The Strategic Petroleum Reserve saw a record weekly drawdown, which underscores how much oil was removed from emergency stockpiles and could support prices if supply stays tight. Trump Promised to Refill America’s Emergency Oil Reserve. Instead, It Just Saw Its Largest Weekly Drain in History.
• Neutral Sentiment: Oil markets remain highly volatile, with traders still looking for clarity on Middle East tensions and potential supply disruptions. Crude Oil Price Analysis – Oil Continues to Look for Clarity
• Negative Sentiment: Prices eased after reports that tankers are moving through the Strait of Hormuz and after Trump said the U.S. would end the Iran war quickly, reducing some of the supply-disruption premium. Tankers exit Hormuz as Trump, Vance talk up Iran deal prospects
• Negative Sentiment: Oil prices also fell as investors priced in lower immediate geopolitical risk after Trump delayed a planned strike on Iran, which pressured crude-linked funds like USO. US crude futures fall over 2% as Trump says he holds off scheduled attack on Iran

United States Oil Fund Stock Down 5.9%

The stock has a market capitalization of $1.94 billion, a PE ratio of 19.22 and a beta of 0.01. The company has a 50-day moving average of $128.83 and a 200 day moving average of $93.23.

Hedge Funds Weigh In On United States Oil Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hamilton Wealth LLC acquired a new position in shares of United States Oil Fund in the 1st quarter valued at $55,001,000. Bank of America Corp DE lifted its stake in United States Oil Fund by 117.1% during the 1st quarter. Bank of America Corp DE now owns 143,881 shares of the company’s stock worth $18,309,000 after acquiring an additional 77,617 shares in the last quarter. Caption Management LLC acquired a new position in United States Oil Fund during the 4th quarter worth about $5,201,000. Harvest Fund Management Co. Ltd lifted its stake in United States Oil Fund by 33.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 239,149 shares of the company’s stock worth $17,030,000 after acquiring an additional 60,569 shares in the last quarter. Finally, Parker Investment Management LLC acquired a new position in United States Oil Fund during the 1st quarter worth about $6,364,000. Institutional investors and hedge funds own 67.47% of the company’s stock.

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.