United States Oil Fund (NYSEARCA:USO) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

United States Oil Fund LP (NYSEARCA:USO)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $75.87 and traded as high as $75.94. United States Oil Fund shares last traded at $75.42, with a volume of 2,469,430 shares changing hands.

United States Oil Fund Price Performance

The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 21.87 and a beta of 0.58. The firm’s fifty day simple moving average is $75.87 and its 200 day simple moving average is $74.23.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in USO. Murphy & Mullick Capital Management Corp acquired a new stake in United States Oil Fund during the fourth quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of United States Oil Fund during the 3rd quarter worth about $31,000. IFP Advisors Inc lifted its holdings in shares of United States Oil Fund by 35.4% during the 4th quarter. IFP Advisors Inc now owns 765 shares of the company’s stock valued at $58,000 after buying an additional 200 shares during the last quarter. National Bank of Canada FI grew its stake in shares of United States Oil Fund by 35.1% in the 4th quarter. National Bank of Canada FI now owns 770 shares of the company’s stock valued at $58,000 after buying an additional 200 shares in the last quarter. Finally, St. Johns Investment Management Company LLC acquired a new position in United States Oil Fund in the fourth quarter worth approximately $97,000.

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.