United States Oil Fund LP (NYSEARCA:USO) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in shares of United States Oil Fund LP (NYSEARCA:USO) by 45.1% in the fourth quarter, HoldingsChannel reports. The firm owned 7,558 shares of the company’s stock after selling 6,197 shares during the period. Cresset Asset Management LLC’s holdings in United States Oil Fund were worth $571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in shares of United States Oil Fund by 279,273.3% in the third quarter. JPMorgan Chase & Co. now owns 41,906 shares of the company’s stock worth $2,930,000 after acquiring an additional 41,891 shares during the period. HB Wealth Management LLC acquired a new position in shares of United States Oil Fund in the fourth quarter worth about $297,000. Global Wealth Management LLC acquired a new position in shares of United States Oil Fund in the fourth quarter worth about $923,000. St. Johns Investment Management Company LLC acquired a new position in shares of United States Oil Fund in the fourth quarter worth about $97,000. Finally, Foundations Investment Advisors LLC acquired a new position in shares of United States Oil Fund in the fourth quarter worth about $219,000.

United States Oil Fund Stock Performance

Shares of United States Oil Fund stock opened at $68.73 on Thursday. The company has a market cap of $922.36 million, a P/E ratio of 19.22 and a beta of 0.51. The firm has a 50-day simple moving average of $69.38 and a two-hundred day simple moving average of $73.04. United States Oil Fund LP has a fifty-two week low of $60.67 and a fifty-two week high of $84.58.

United States Oil Fund 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.