United States Oil Fund LP (USO) Short Interest Update
United States Oil Fund LP (NYSE:USO) was the recipient of a large growth in short interest in July. As of July 14th, there was short interest totalling 60,790,204 shares, a growth of 23.3% from the June 30th total of 49,297,223 shares. Based on an average trading volume of 34,392,321 shares, the days-to-cover ratio is presently 1.8 days.
Shares of United States Oil Fund (NYSE USO) opened at 10.17 on Friday. The firm has a 50-day moving average of $9.37 and a 200 day moving average of $10.36. United States Oil Fund has a 52-week low of $8.65 and a 52-week high of $12.00.
Large investors have recently bought and sold shares of the company. Ronald Blue & Co. LLC acquired a new position in shares of United States Oil Fund during the second quarter valued at approximately $170,000. Daiwa Securities Group Inc. increased its position in shares of United States Oil Fund by 4,361.0% in the second quarter. Daiwa Securities Group Inc. now owns 914,500 shares of the exchange traded fund’s stock valued at $8,687,000 after buying an additional 894,000 shares during the last quarter. Finally, ING Groep NV increased its position in shares of United States Oil Fund by 57.2% in the second quarter. ING Groep NV now owns 86,795 shares of the exchange traded fund’s stock valued at $825,000 after buying an additional 31,595 shares during the last quarter.
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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.
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