United States Oil Fund Target of Unusually Large Options Trading (NYSEARCA:USO)

United States Oil Fund LP (NYSEARCA:USO) saw some unusual options trading on Wednesday. Stock investors purchased 69,110 call options on the stock. This represents an increase of 70% compared to the typical volume of 40,720 call options.

Institutional Trading of United States Oil Fund

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. acquired a new position in shares of United States Oil Fund in the 1st quarter valued at $259,000. US Bancorp DE lifted its stake in shares of United States Oil Fund by 581.4% in the 1st quarter. US Bancorp DE now owns 8,245 shares of the company’s stock valued at $611,000 after purchasing an additional 7,035 shares during the last quarter. Prudential PLC acquired a new position in shares of United States Oil Fund in the 1st quarter valued at $333,000. NewEdge Advisors LLC lifted its stake in shares of United States Oil Fund by 14.5% in the 1st quarter. NewEdge Advisors LLC now owns 21,140 shares of the company’s stock valued at $1,567,000 after purchasing an additional 2,678 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of United States Oil Fund in the 1st quarter valued at $505,000.

United States Oil Fund Stock Performance

Shares of NYSEARCA:USO opened at $82.27 on Friday. The business has a fifty day moving average of $74.32 and a two-hundred day moving average of $73.13. United States Oil Fund has a 52-week low of $59.78 and a 52-week high of $83.29.

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.