38,500 Shares in United States Oil Fund LP $USO Purchased by Irenic Capital Management LP

Irenic Capital Management LP acquired a new position in shares of United States Oil Fund LP (NYSEARCA:USO) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 38,500 shares of the company’s stock, valued at approximately $4,098,000. Irenic Capital Management LP owned approximately 0.25% of United States Oil Fund at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of United States Oil Fund in the second quarter valued at approximately $38,000. PNC Financial Services Group Inc. purchased a new stake in shares of United States Oil Fund during the fourth quarter worth approximately $48,000. Parallel Advisors LLC acquired a new position in United States Oil Fund in the 1st quarter valued at $57,000. Advisory Services Network LLC acquired a new position in United States Oil Fund in the 3rd quarter valued at $57,000. Finally, Ancora Advisors LLC lifted its holdings in United States Oil Fund by 100.0% in the 3rd quarter. Ancora Advisors LLC now owns 1,380 shares of the company’s stock valued at $102,000 after purchasing an additional 690 shares in the last quarter. Institutional investors and hedge funds own 67.47% of the company’s stock.

United States Oil Fund Stock Performance

Shares of USO stock opened at $141.96 on Friday. United States Oil Fund LP has a fifty-two week low of $65.99 and a fifty-two week high of $154.08. The stock’s fifty day moving average is $123.85 and its two-hundred day moving average is $122.13. The firm has a market capitalization of $2.22 billion, a P/E ratio of 19.22 and a beta of -0.02.

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.