United States Oil Fund (NYSEARCA:USO) Sets New 1-Year High – Should You Buy?

United States Oil Fund LP (NYSEARCA:USOGet Free Report) shares hit a new 52-week high during mid-day trading on Saturday . The company traded as high as $125.30 and last traded at $124.20, with a volume of 32606633 shares traded. The stock had previously closed at $117.26.

United States Oil Fund News Roundup

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

United States Oil Fund Trading Up 5.9%

The company has a 50 day moving average of $90.41 and a 200 day moving average of $77.88. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 19.22 and a beta of 0.40.

Institutional Investors Weigh In On United States Oil Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its position in United States Oil Fund by 1.6% in the 1st quarter. NewEdge Advisors LLC now owns 11,948 shares of the company’s stock valued at $924,000 after buying an additional 187 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of United States Oil Fund by 22.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,132 shares of the company’s stock valued at $83,000 after buying an additional 210 shares during the period. HB Wealth Management LLC raised its position in shares of United States Oil Fund by 5.5% during the fourth quarter. HB Wealth Management LLC now owns 4,150 shares of the company’s stock worth $287,000 after acquiring an additional 216 shares during the last quarter. Clear Investment Research LLC raised its position in shares of United States Oil Fund by 14.1% during the third quarter. Clear Investment Research LLC now owns 1,992 shares of the company’s stock worth $147,000 after acquiring an additional 246 shares during the last quarter. Finally, Scotia Capital Inc. lifted its stake in shares of United States Oil Fund by 6.5% during the third quarter. Scotia Capital Inc. now owns 4,562 shares of the company’s stock valued at $336,000 after acquiring an additional 278 shares during the period. Institutional investors and hedge funds own 67.47% of the company’s stock.

United States Oil Fund Company Profile

(Get Free Report)

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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