United States Oil Fund LP (USO) Sees Large Growth in Short Interest

United States Oil Fund LP (NYSEARCA:USO) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 66,454,037 shares, a growth of 11.4% from the October 13th total of 59,678,514 shares. Based on an average daily trading volume, of 15,257,455 shares, the days-to-cover ratio is currently 4.4 days.

United States Oil Fund (NYSEARCA USO) opened at $11.07 on Friday. United States Oil Fund has a 52-week low of $8.65 and a 52-week high of $12.00.

Several institutional investors have recently bought and sold shares of the stock. Allegis Investment Advisors LLC lifted its position in shares of United States Oil Fund by 1.9% during the 2nd quarter. Allegis Investment Advisors LLC now owns 15,824 shares of the company’s stock worth $150,000 after buying an additional 300 shares during the period. Sigma Planning Corp raised its position in United States Oil Fund by 1.2% in the 2nd quarter. Sigma Planning Corp now owns 34,375 shares of the company’s stock valued at $327,000 after purchasing an additional 405 shares during the last quarter. Bank of New York Mellon Corp raised its position in United States Oil Fund by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 19,571 shares of the company’s stock valued at $186,000 after purchasing an additional 1,466 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its position in United States Oil Fund by 6.4% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 31,633 shares of the company’s stock valued at $295,000 after purchasing an additional 1,900 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in United States Oil Fund by 13.8% in the 2nd quarter. HighTower Advisors LLC now owns 18,165 shares of the company’s stock valued at $173,000 after purchasing an additional 2,200 shares during the last quarter.

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United States Oil Fund Company 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.

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