Short Interest in United States Oil Fund LP (USO) Grows By 46.2%
United States Oil Fund LP (NYSE:USO) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 58,840,201 shares, an increase of 46.2% from the May 15th total of 40,244,685 shares. Based on an average daily trading volume, of 30,761,382 shares, the days-to-cover ratio is currently 1.9 days.
Shares of United States Oil Fund (USO) opened at 9.60 on Wednesday. United States Oil Fund has a one year low of $9.23 and a one year high of $12.10. The stock has a 50 day moving average of $9.99 and a 200-day moving average of $10.82.
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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.
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