Orion Portfolio Solutions LLC Takes $214,000 Position in United States Oil Fund LP (NYSEARCA:USO)

Orion Portfolio Solutions LLC purchased a new stake in United States Oil Fund LP (NYSEARCA:USO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,835 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in USO. Wilmington Savings Fund Society FSB acquired a new stake in United States Oil Fund during the 3rd quarter worth about $31,000. FFG Partners LLC lifted its position in shares of United States Oil Fund by 2.2% in the third quarter. FFG Partners LLC now owns 76,277 shares of the company’s stock worth $5,333,000 after purchasing an additional 1,640 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of United States Oil Fund by 279,273.3% during the third quarter. JPMorgan Chase & Co. now owns 41,906 shares of the company’s stock worth $2,930,000 after purchasing an additional 41,891 shares during the period. HB Wealth Management LLC purchased a new position in United States Oil Fund during the fourth quarter valued at approximately $297,000. Finally, Global Wealth Management LLC acquired a new position in United States Oil Fund in the 4th quarter valued at approximately $923,000.

United States Oil Fund Stock Down 3.3 %

USO stock opened at $65.32 on Friday. The company has a 50 day moving average of $73.46 and a two-hundred day moving average of $74.18. United States Oil Fund LP has a 12-month low of $60.67 and a 12-month high of $84.58. The company has a market cap of $876.59 million, a price-to-earnings ratio of 23.33 and a beta of 0.06.

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.