United States Oil Fund LP (NYSE:USO) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 57,470,269 shares, a drop of 13.6% from the August 15th total of 66,481,695 shares. Based on an average daily volume of 22,927,201 shares, the days-to-cover ratio is currently 2.5 days.

United States Oil Fund (NYSE:USO) opened at 10.24 on Friday. The firm’s 50-day moving average price is $9.88 and its 200-day moving average price is $9.96. United States Oil Fund has a 52 week low of $8.65 and a 52 week high of $12.00.

Institutional investors have recently modified their holdings of the stock. Commerzbank Aktiengesellschaft FI increased its holdings in shares of United States Oil Fund by 64.7% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,691,042 shares of the exchange traded fund’s stock valued at $25,565,000 after purchasing an additional 1,057,112 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of United States Oil Fund by 25.2% in the second quarter. Private Advisor Group LLC now owns 91,901 shares of the exchange traded fund’s stock valued at $839,000 after purchasing an additional 18,501 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of United States Oil Fund in the second quarter valued at approximately $85,220,000. ING Groep NV increased its holdings in shares of United States Oil Fund by 57.2% in the second quarter. ING Groep NV now owns 86,795 shares of the exchange traded fund’s stock valued at $825,000 after purchasing an additional 31,595 shares in the last quarter. Finally, Ronald Blue & Co. LLC acquired a new stake in shares of United States Oil Fund in the second quarter valued at approximately $170,000.

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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.

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