United States Oil Fund (NYSEARCA:USO) Sees Large Volume Increase

United States Oil Fund LP (NYSEARCA:USO) saw strong trading volume on Tuesday . 3,069,265 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 3,585,108 shares.The stock last traded at $71.45 and had previously closed at $69.92.

United States Oil Fund Stock Up 4.8 %

The stock’s 50-day moving average is $73.53 and its 200 day moving average is $76.47. The stock has a market capitalization of $1.27 billion, a PE ratio of 22.97 and a beta of 0.10.

Hedge Funds Weigh In On United States Oil Fund

Several large investors have recently bought and sold shares of the stock. Westwood Holdings Group Inc. bought a new position in shares of United States Oil Fund in the 4th quarter valued at about $351,000. Wellington Management Group LLP acquired a new stake in United States Oil Fund during the 4th quarter valued at $9,238,000. International Assets Investment Management LLC boosted its position in United States Oil Fund by 81.3% during the first quarter. International Assets Investment Management LLC now owns 6,052 shares of the company’s stock worth $482,000 after purchasing an additional 2,713 shares during the period. St. Johns Investment Management Company LLC acquired a new position in shares of United States Oil Fund in the first quarter valued at $110,000. Finally, Daiwa Securities Group Inc. raised its position in shares of United States Oil Fund by 0.8% in the first quarter. Daiwa Securities Group Inc. now owns 26,000 shares of the company’s stock valued at $2,047,000 after purchasing an additional 200 shares during the period.

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.