United States Oil Fund (NYSEARCA:USO) Stock Price Up 2.7% – Here’s Why

United States Oil Fund LP (NYSEARCA:USO) shot up 2.7% during trading on Monday . The company traded as high as $76.49 and last traded at $76.80. 705,014 shares were traded during trading, a decline of 77% from the average session volume of 3,129,542 shares. The stock had previously closed at $74.77.

United States Oil Fund Stock Performance

The stock has a 50 day moving average of $75.57 and a two-hundred day moving average of $74.37. The stock has a market cap of $1.04 billion, a PE ratio of 21.87 and a beta of 0.58.

Institutional Investors Weigh In On United States Oil Fund

Several institutional investors and hedge funds have recently made changes to their positions in USO. Menard Financial Group LLC bought a new stake in United States Oil Fund during the fourth quarter worth about $130,000. Kaizen Financial Strategies bought a new position in United States Oil Fund in the fourth quarter valued at about $1,515,000. Mercer Global Advisors Inc. ADV boosted its holdings in shares of United States Oil Fund by 62.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,412 shares of the company’s stock valued at $409,000 after acquiring an additional 2,081 shares in the last quarter. Insigneo Advisory Services LLC grew its stake in shares of United States Oil Fund by 109.3% in the fourth quarter. Insigneo Advisory Services LLC now owns 12,134 shares of the company’s stock worth $917,000 after purchasing an additional 6,336 shares during the last quarter. Finally, Jump Financial LLC bought a new position in United States Oil Fund during the 4th quarter worth approximately $10,399,000.

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.