The company traded as high as $28.82 and last traded at $28.07. In addition, USO has been awaiting SEC approval for more than a month to sell additional shares to investors eager to keep wagering on oil.
The stock had previously closed at $26.47. briefly caused oil prices to turn negative last month. Basically, the United States Oil fund is designed to offer a way to invest in U.S. oil without having to purchase futures contracts on a mercantile exchange yourself, or buy stock in a specific oil company like Conoco or Chevron. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. USO faces issues separate from regulators’ investigations. Disclaimer | Get United States Oil Fund, LP (USO:NYSE Arca) real-time stock quotes, news and financial information from CNBC. Jason Hall (TMFVelvetHammer) Michael Gayed's fund relied on just one market signal to book a huge profit when the coronavirus crushed stocks — and his returns are still soaring. United States Oil Fund (NYSEARCA USO) News Headlines Today. Market data powered by FactSet and Web Financial Group. For instance, its sole broker, RBC Capital Markets LLC, has decided against adding new futures positions that would grow the size of the fund because of risk management concerns, according to a Tuesday SEC filing. Elections, COVID-19 Lockdowns, and Supply, Currency Expert: "Cash Vanishing - Here's Why", U.S. Crude Sinks Below $35 as Covid Fears Pummel Market, Scott+Scott Attorneys at Law LLP Continues to Investigate United States Oil Fund, LP's Directors and Officers for Breach of Fiduciary Duties - USO, Oil Stockpiles Rose 4.3 Million Barrels: EIA, Energy back in the cellar as COVID cases rise: At the Open, Giant Fund at Heart of Oil Storm Loses Most Cash in 4 Years, In Unstable Oil Market, Analyst Says Stick To Status Quo, Hold Out For COVID-19 Vaccines, Giant Fund at Heart of Oil Storm Sees Biggest Exodus Since 2016, Oil Stockpiles Fell by 1 Million Barrels: EIA, Oil Down, as Unexpected U.S. Crude Supplies Build Fuels Oversupply Worries. See what's happening in the market right now with MarketBeat's real-time news feed. As you can see, on April 27, the USO announced it was exiting its positions in the current June contracts entirely. USO buys futures, not physical oil. But on April 17, that changed. The restrictions from RBC are impairing USO's ability to meet its investment objective. The next level up in speed, processing, and computing power. The Shock of Subzero Oil Will Shake the U.S. Energy Industry. A popular exchange traded fund that uses complex derivatives to track oil is being investigated by U.S. regulators over whether its risks were properly disclosed to investors, scrutiny triggered by crude’s historic slump during the coronavirus crisis, said three people familiar with the matter. NOW WATCH: Why Pikes Peak is the most dangerous racetrack in America, Registration on or use of this site constitutes acceptance of our. All rights reserved. Fully 40% of the fund's portfolio is now going to be for contracts more than three months out. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Your Biggest Fear Might Come True, Copyright, Trademark and Patent Information. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services.
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