United States Oil Fund (USO) Stock Price Down 5.6%

Shares of United States Oil Fund LP (NYSEARCA:USO) were down 5.6% during trading on Friday . The company traded as low as $11.04 and last traded at $11.10. Approximately 40,315,551 shares changed hands during mid-day trading, an increase of 69% from the average daily volume of 23,786,945 shares. The stock had previously closed at $11.76.

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in United States Oil Fund by 59.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,003,516 shares of the company’s stock worth $62,135,000 after buying an additional 1,493,682 shares during the last quarter. MML Investors Services LLC raised its position in United States Oil Fund by 129.2% during the 4th quarter. MML Investors Services LLC now owns 146,281 shares of the company’s stock worth $1,413,000 after buying an additional 82,469 shares during the last quarter. Westside Investment Management Inc. raised its position in United States Oil Fund by 900.0% during the 4th quarter. Westside Investment Management Inc. now owns 10,000 shares of the company’s stock worth $97,000 after buying an additional 9,000 shares during the last quarter. F3Logic LLC raised its position in United States Oil Fund by 82.1% during the 4th quarter. F3Logic LLC now owns 29,388 shares of the company’s stock worth $284,000 after buying an additional 13,252 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in United States Oil Fund during the 4th quarter worth approximately $253,000.

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About United States Oil Fund (NYSEARCA:USO)

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.

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