Global Retirement Partners LLC has recently lowered its stake in United States Oil Fund LP by 22.1% during the first quarter. The institutional investor sold 448 shares, leaving them with 1,577 shares of the company’s stock. At the end of the reporting period, Global Retirement Partners’ holdings were valued at $95,000.
Other institutional investors and hedge funds have also made changes to their holdings in United States Oil Fund. Sumitomo Mitsui Financial Group Inc. increased its stake by 34.0% in the fourth quarter, bringing their total to 847,400 shares. Natixis acquired a new position in the fourth quarter, while Bank of Nova Scotia did the same. Morgan Stanley lifted its position in the fourth quarter, and BlackRock Inc. increased its position in the third quarter.
United States Oil Fund stock opened at $74.25 on Friday, with a 50-day moving average of $67.04 and a 200-day moving average of $66.49. Its 1-year low is $57.83 and its 1-year high is $78.96.
United States Oil Fund, LP (USO) is a commodity pool that offers limited partnership interests traded on the NYSE Arca. Its investment objective is to reflect the daily changes in the spot price of light, sweet crude oil delivered to Cushing, Oklahoma. The fund primarily focuses on the daily changes in the price of the futures contract for light, sweet crude oil traded on the New York Mercantile Exchange.
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