Global Wealth Management LLC Invests $923,000 in United States Oil Fund LP (NYSEARCA:USO)

Global Wealth Management LLC bought a new position in United States Oil Fund LP (NYSEARCA:USO) in the fourth quarter, HoldingsChannel.com reports. The fund bought 12,220 shares of the company’s stock, valued at approximately $923,000. United States Oil Fund makes up approximately 0.6% of Global Wealth Management LLC’s holdings, making the stock its 16th biggest holding.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of United States Oil Fund in the 3rd quarter worth approximately $31,000. CENTRAL TRUST Co acquired a new position in shares of United States Oil Fund in the 3rd quarter worth approximately $104,000. SG Americas Securities LLC raised its holdings in shares of United States Oil Fund by 47.6% in the 3rd quarter. SG Americas Securities LLC now owns 2,548 shares of the company’s stock worth $178,000 after buying an additional 822 shares in the last quarter. CWM LLC raised its holdings in shares of United States Oil Fund by 134.2% in the 3rd quarter. CWM LLC now owns 2,558 shares of the company’s stock worth $179,000 after buying an additional 1,466 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of United States Oil Fund in the 3rd quarter worth approximately $235,000.

United States Oil Fund Trading Down 0.5 %

Shares of USO opened at $82.52 on Monday. United States Oil Fund LP has a 1 year low of $66.02 and a 1 year high of $84.58. The stock has a 50 day simple moving average of $74.31 and a 200-day simple moving average of $74.46. The stock has a market cap of $1.43 billion, a PE ratio of 22.97 and a beta of 0.10.

United States Oil Fund 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.