United States Oil Fund (NYSEARCA:USO) Shares Gap Down to $71.48

United States Oil Fund LP (NYSEARCA:USO) gapped down prior to trading on Thursday . The stock had previously closed at $71.48, but opened at $69.22. United States Oil Fund shares last traded at $68.68, with a volume of 833,312 shares trading hands.

United States Oil Fund Trading Down 2.7 %

The company’s 50-day moving average is $74.05 and its two-hundred day moving average is $76.56. The firm has a market cap of $1.20 billion, a P/E ratio of 22.97 and a beta of 0.10.

Institutional Investors Weigh In On United States Oil Fund

Several large investors have recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC bought a new stake in shares of United States Oil Fund during the 4th quarter worth $44,000. St. Johns Investment Management Company LLC bought a new position in shares of United States Oil Fund during the 1st quarter valued at $110,000. Clear Investment Research LLC grew its stake in shares of United States Oil Fund by 44.3% during the second quarter. Clear Investment Research LLC now owns 1,589 shares of the company’s stock valued at $126,000 after buying an additional 488 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of United States Oil Fund in the first quarter worth about $197,000. Finally, Brookstone Capital Management purchased a new stake in United States Oil Fund during the 1st quarter valued at about $228,000.

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.