Stock Traders Purchase High Volume of United States Oil Fund Put Options (NYSEARCA:USO)

United States Oil Fund LP (NYSEARCA:USO) saw some unusual options trading on Friday. Stock investors purchased 64,250 put options on the stock. This is an increase of 45% compared to the typical daily volume of 44,241 put options.

Hedge Funds Weigh In On United States Oil Fund

A number of large investors have recently added to or reduced their stakes in USO. Activest Wealth Management bought a new position in shares of United States Oil Fund during the third quarter worth about $28,000. Raymond James Financial Inc. bought a new position in shares of United States Oil Fund during the 2nd quarter worth approximately $38,000. Financial Consulate Inc. acquired a new stake in shares of United States Oil Fund in the third quarter valued at approximately $42,000. Harbour Investments Inc. lifted its position in shares of United States Oil Fund by 30,200.0% in the first quarter. Harbour Investments Inc. now owns 606 shares of the company’s stock worth $47,000 after purchasing an additional 604 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in United States Oil Fund by 1,428.6% during the second quarter. Farther Finance Advisors LLC now owns 642 shares of the company’s stock worth $47,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 67.47% of the company’s stock.

United States Oil Fund Stock Performance

NYSEARCA USO opened at $71.92 on Friday. The stock has a market capitalization of $943.59 million, a PE ratio of 19.22 and a beta of 0.40. The stock has a 50-day simple moving average of $71.15 and a 200 day simple moving average of $73.28. United States Oil Fund has a twelve month low of $60.67 and a twelve month high of $84.58.

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.