United States Oil Fund LP $USO Stock: WealthCare Asset Management LLC Cuts Holdings

WealthCare Asset Management LLC lessened its holdings in United States Oil Fund LP (NYSEARCA:USO) by 29.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,501 shares of the company’s stock after selling 10,773 shares during the quarter. United States Oil Fund comprises approximately 3.2% of WealthCare Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. WealthCare Asset Management LLC’s holdings in United States Oil Fund were worth $3,714,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hamilton Wealth LLC acquired a new stake in United States Oil Fund during the 1st quarter valued at approximately $55,001,000. Bank of America Corp DE increased its stake in shares of 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 worth $18,309,000 after acquiring an additional 77,617 shares during the period. Parker Investment Management LLC acquired a new stake in shares of United States Oil Fund in the first quarter worth $6,364,000. Arkadios Wealth Advisors purchased a new position in shares of United States Oil Fund during the first quarter worth $5,326,000. Finally, Franchise GP Ltd purchased a new position in shares of United States Oil Fund during the third quarter worth $5,953,000. 67.47% of the stock is owned by hedge funds and other institutional investors.

United States Oil Fund Price Performance

Shares of United States Oil Fund stock opened at $166.23 on Tuesday. The stock has a market cap of $1.87 billion, a PE ratio of 19.22 and a beta of 0.01. The firm has a fifty day moving average price of $147.26 and a 200 day moving average price of $121.32. United States Oil Fund LP has a 1 year low of $65.99 and a 1 year high of $169.96.

Insider Buying and Selling

In other United States Oil Fund news, major shareholder Financial Lp Hrt sold 17,023 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $157.58, for a total transaction of $2,682,484.34. Following the sale, the insider directly owned 128,543 shares of the company’s stock, valued at approximately $20,255,805.94. This trade represents a 11.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have acquired 148,833 shares of company stock valued at $23,385,278 and have sold 95,353 shares valued at $14,737,344.

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.