United States Oil Fund LP (NYSEARCA:USO) was down 5.1% on Thursday . The stock traded as low as $11.92 and last traded at $12.09. Approximately 45,560,293 shares traded hands during mid-day trading, an increase of 94% from the average daily volume of 23,484,625 shares. The stock had previously closed at $12.74.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in United States Oil Fund by 59.5% in the third quarter. JPMorgan Chase & Co. now owns 4,003,516 shares of the company’s stock worth $62,135,000 after purchasing an additional 1,493,682 shares during the last quarter. Morgan Stanley increased its position in United States Oil Fund by 14.8% in the first quarter. Morgan Stanley now owns 2,931,151 shares of the company’s stock worth $36,640,000 after purchasing an additional 376,985 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its position in United States Oil Fund by 4.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,990,986 shares of the company’s stock worth $19,233,000 after purchasing an additional 91,717 shares during the last quarter. Marshall Wace LLP increased its position in United States Oil Fund by 32.1% in the first quarter. Marshall Wace LLP now owns 1,593,676 shares of the company’s stock worth $19,921,000 after purchasing an additional 387,629 shares during the last quarter. Finally, Sumitomo Mitsui Financial Group Inc. bought a new stake in United States Oil Fund in the fourth quarter worth $13,543,000.
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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