United States Oil Fund (NYSEARCA:USO) Shares Gap Down – Here’s Why

Shares of United States Oil Fund LP (NYSEARCA:USO) gapped down before the market opened on Monday. The stock had previously closed at $148.41, but opened at $142.55. United States Oil Fund shares last traded at $143.93, with a volume of 1,852,415 shares trading hands.

More United States Oil Fund News

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

• Positive Sentiment: Crude rebounded from a two-month low, with Brent moving above $92, as renewed strikes and attacks affecting Hormuz shipping weakened expectations for a diplomatic resolution to the U.S.-Iran conflict. This supply-risk premium could support USO. Oil Prices Rebound as Middle East Supply Risks Persist
• Positive Sentiment: China’s October crude imports reached their highest level since March, a potential demand-supportive factor for oil prices. China’s October crude oil imports rise to highest level since March amid Middle East war
• Neutral Sentiment: Oil’s direction remains sensitive to developments in the conflict and shipping disruptions: prices have rebounded, but traders are still weighing supply risks against hopes for de-escalation. Oil rises from two-month low as Hormuz shipping attacks offset Iran truce hopes
• Negative Sentiment: Bearish technical signals and recent expectations of reduced conflict-related supply disruption had pressured crude, with a forecast pointing to support levels between $82 and $78 for WTI. Those pressures could weigh on USO if the decline resumes. WTI Price Forecast: Bearish Signals Put $78 Support in Focus
• Negative Sentiment: Trump’s comments that U.S. military action against Iran was not necessary “at this point” eased fears of prolonged supply disruptions, while OPEC output rose in October to 90% of its pre-war rate. Both developments could limit oil-price gains. Oil falls as Trump downplays prospect of escalation with Iran OPEC oil output rises in October to 90% of pre-war rate

United States Oil Fund Stock Down 0.8%

The firm’s 50-day simple moving average is $152.63 and its 200 day simple moving average is $125.93. The stock has a market capitalization of $1.80 billion, a P/E ratio of 19.22 and a beta of -0.05.

Insider Buying and Selling at United States Oil Fund

In other United States Oil Fund news, major shareholder Financial Lp Hrt acquired 101,212 shares of the stock in a transaction dated Monday, September 14th. The shares were bought at an average price of $158.02 per share, with a total value of $15,993,520.24. Following the purchase, the insider directly owned 61,589 shares of the company’s stock, valued at approximately $9,732,293.78. This trade represents a -255.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have bought 148,833 shares of company stock worth $23,385,278 and have sold 95,353 shares worth $14,737,344.

Institutional Trading of United States Oil Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Irenic Capital Management LP acquired a new position in United States Oil Fund in the second quarter worth approximately $4,098,000. Three Seasons Wealth LLC bought a new position in shares of United States Oil Fund in the second quarter valued at $556,000. Professional Financial Advisors LLC acquired a new stake in shares of United States Oil Fund during the 2nd quarter valued at $1,178,000. Arkadios Wealth Advisors acquired a new stake in shares of United States Oil Fund during the 1st quarter valued at $5,326,000. Finally, Bank of America Corp DE lifted its position in shares of 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 valued at $18,309,000 after acquiring an additional 77,617 shares during the last quarter. 67.47% of the stock is owned by institutional investors and hedge funds.

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.