Kovack Advisors Inc. Purchases Shares of 3,278 United States Oil Fund LP (NYSEARCA:USO)

Kovack Advisors Inc. purchased a new stake in shares of United States Oil Fund LP (NYSEARCA:USO) in the 1st quarter, HoldingsChannel reports. The fund purchased 3,278 shares of the company’s stock, valued at approximately $258,000.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc purchased a new stake in shares of United States Oil Fund during the fourth quarter valued at about $40,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of United States Oil Fund during the fourth quarter valued at about $44,000. CWM LLC lifted its position in shares of United States Oil Fund by 45.9% during the fourth quarter. CWM LLC now owns 1,192 shares of the company’s stock valued at $79,000 after buying an additional 375 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in shares of United States Oil Fund during the fourth quarter valued at about $90,000. Finally, St. Johns Investment Management Company LLC purchased a new stake in shares of United States Oil Fund during the first quarter valued at about $110,000.

United States Oil Fund Stock Up 0.2 %

Shares of United States Oil Fund stock opened at $81.27 on Friday. The firm has a market capitalization of $1.41 billion, a P/E ratio of 22.97 and a beta of 0.10. The company has a 50 day moving average price of $76.75 and a 200 day moving average price of $74.62. United States Oil Fund LP has a 52 week low of $63.12 and a 52 week high of $83.41.

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.