United States Oil Fund (NYSEARCA:USO) Shares Gap Down – Here’s Why

United States Oil Fund LP (NYSEARCA:USO) gapped down prior to trading on Tuesday . The stock had previously closed at $121.21, but opened at $116.34. United States Oil Fund shares last traded at $116.82, with a volume of 1,880,823 shares trading hands.

United States Oil Fund News Summary

Here are the key news stories impacting United States Oil Fund this week:

• Positive Sentiment: U.S. crude inventories fell for a 10th straight week to the lowest level since 1985, while API/EIA data also showed a sharper-than-expected weekly draw and strong refinery runs. Tighter U.S. supply is a bullish offset for oil prices and can support USO. Article Title
• Positive Sentiment: Potential Tropical Cyclone One formed off the Texas coast, threatening flooding along the Gulf energy corridor, which could disrupt drilling, refining, and transport if it worsens. Article Title
• Neutral Sentiment: Oil tried to rebound intraday, but momentum faded as traders remained focused on Middle East headlines and technical trading. Article Title
• Neutral Sentiment: Markets are still assessing whether the U.S.-Iran framework deal truly restores Strait of Hormuz flows quickly; the uncertainty is keeping price action volatile rather than clearly directional. Article Title
• Negative Sentiment: Multiple reports say the U.S.-Iran deal and reopening of Hormuz could lift supply, with Middle East crude slipping to discounts and Goldman Sachs/Morgan Stanley cutting oil-price forecasts. That is bearish for crude-linked funds like USO. Article Title
• Negative Sentiment: Reports that Iran may immediately resume oil sales and that tanker traffic is already moving through the area reinforce the view that sanctions risk and supply disruption could fade, weighing on oil prices. Article Title

United States Oil Fund Price Performance

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 19.22 and a beta of -0.04. The firm has a 50 day moving average price of $134.01 and a 200-day moving average price of $102.35.

Institutional Trading of United States Oil Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Hamilton Wealth LLC acquired a new stake in United States Oil Fund in the first quarter valued at $55,001,000. Harvest Fund Management Co. Ltd raised its stake in United States Oil Fund by 33.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 239,149 shares of the company’s stock valued at $17,030,000 after buying an additional 60,569 shares in the last quarter. Bank of America Corp DE raised its stake in United States Oil Fund by 117.1% in the first quarter. Bank of America Corp DE now owns 143,881 shares of the company’s stock valued at $18,309,000 after buying an additional 77,617 shares in the last quarter. Caption Management LLC acquired a new stake in United States Oil Fund in the fourth quarter valued at $5,201,000. Finally, JPMorgan Chase & Co. raised its stake in United States Oil Fund by 65.1% in the second quarter. JPMorgan Chase & Co. now owns 66,225 shares of the company’s stock valued at $4,842,000 after buying an additional 26,102 shares in the last quarter. 67.47% of the stock is currently owned by institutional investors and hedge funds.

About United States Oil Fund

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.