United States Oil Fund (NYSEARCA:USO) Hits New 52-Week High – Still a Buy?

United States Oil Fund LP (NYSEARCA:USO)’s stock price reached a new 52-week high during mid-day trading on Friday. The company traded as high as $170.44 and last traded at $169.88, with a volume of 1,149,550 shares trading hands. The stock had previously closed at $168.19.

United States Oil Fund Trading Up 1.5%

The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 19.22 and a beta of 0.01. The company’s 50 day simple moving average is $149.40 and its 200-day simple moving average is $122.77.

Insider Transactions at United States Oil Fund

In related news, major shareholder Financial Lp Hrt sold 17,023 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $157.58, for a total transaction of $2,682,484.34. Following the sale, the insider owned 128,543 shares in the company, valued at approximately $20,255,805.94. This trade represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have purchased 148,833 shares of company stock worth $23,385,278 and have sold 95,353 shares worth $14,737,344.

Institutional Trading of United States Oil Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC acquired a new position in United States Oil Fund during the first quarter worth approximately $57,000. Signature Equity Partners LLC boosted its holdings in shares of United States Oil Fund by 240.6% in the 3rd quarter. Signature Equity Partners LLC now owns 579 shares of the company’s stock valued at $84,000 after purchasing an additional 409 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of United States Oil Fund by 11.6% during the 1st quarter. Fifth Third Bancorp now owns 1,116 shares of the company’s stock valued at $142,000 after buying an additional 116 shares during the period. Greenfield Seitz Capital Management LLC purchased a new stake in shares of United States Oil Fund during the 3rd quarter valued at $216,000. Finally, Herold Advisors Inc. acquired a new stake in shares of United States Oil Fund during the 3rd quarter worth $218,000. Hedge funds and other institutional investors own 67.47% of the company’s stock.

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.