United States Oil Fund, LP (USO)
United States Oil Fund, LP operates in the Asset Management industry of the Financial Services sector, headquartered in Walnut Creek, CA, US. The stock last traded at $127.30, down 0.24% on the session, giving a market capitalisation of $15.16B. Its beta of 2.22 implies it has historically moved more than the broad market.
USO delivers its exposure to oil using near-term futures. USO gets exposure to oil using derivatives, like several oil ETPs. The fund predominately holds near-month-futures contracts on WTI, rolling into future contracts every month. This method is particularly sensitive to short-term changes in spot prices. USO held front month contracts until April 17, 2020, at which time following leeway in the prospectus, USO changed the exposure from holding specifically front-month contracts to holding predominantly front-month contracts, 30% next month and 15% contracts with further expiry. USO is structured as a commodities pool, so expect a K-1 at tax time. Long-term holders will be taxed on any gains even if they didn't sell shares.
United States Oil Fund, LP is most often compared with the following Financial Services names: