uso fund news

But on April 17, that changed. All quotes are in local exchange time. Prior to April 17, USO's purchasing guidelines were straightforward: The fund invested in "crude oil futures contracts ... in the near month contract to expire (or "front month"), except when the near month contract is within two weeks of expiration, in which case it invests in the futures contract that is the next month contract to expire (the "second month").". according to an SEC filing submitted on Thursday. By using this site you agree to the In the mean time, USO has been looking to enter additional FCM agreements so it can resume purchasing oil futures contracts, but has yet to enter an agreement. Restaurant Curfew: Virus Update, Pfizer Vaccine’s Funding Came From Berlin, Not Washington, Pfizer Soars as Vaccine Prevents 90% of Covid Cases in Study. The company traded as high as $28.82 and last traded at $28.07. Start Your Risk-Free Trial Subscription Here, Advance Auto Parts (NYSE:AAP) Growth Accelerates, Shares Fall, Pared Down WarnerMedia Makes AT&T (NYSE:T) Look a Bit More Attractive, Campbell (NYSE: CPB) Stock is a Seasonal Buy Wrapped in Stockpiling Rollback Potential, It’s Time To Lighten Up On Rockwell Automation (NYSE:ROK), Ulta Beauty (NASDAQ:ULTA): A Retail Stock Worth Watching, 3 Stocks to Buy that Can Benefit from the Vaccine News, Workhorse Group (NASDAQ:WKHS) Is The Next EV Stock You Need To Buy, GrowGeneration: A Growth Stock for the Millennial Generation, Don't Count Beyond Meat (NASDAQ:BYND) Out Just Yet, 7 Food Stocks That Are Leading Through Innovation, 7 Entertainment Stocks That Are Still Delighting Investors, 7 Clean Energy Stocks With A Bright Future, 7 Stocks It May Be Time To Take Profits On, 7 Stocks to Buy For the Current Housing Boom, 7 Stocks That May Provide the Real Solution to The Coronavirus Puzzle, 7 Stocks That Could Provide a Year-End Rally, 8 Stocks That Robinhood Investors Got Right, 7 Stocks That Will Help You Forget About the Fed, Oil Continues Rise on Vaccine, Stockpile News, Crude Stockpiles Fell 5.1 Million Barrels: API, United States Oil Fund (NYSEARCA:USO) Shares Up 6%, Oil Down, Demand Outlook Dims as European Countries Re-Enter Lockdown, Election 2020: What a Joe Biden presidency would mean for oil, Oil Down on Probable Biden Election Victory, Oil Stockpiles Fell Nearly 8 Million Barrels: EIA, Oil Traders Should Brace Themselves for More Volatility, Oil Down, Focus on U.S. Create a list of the investments you want to track. Data from Robintrack.net shows that the number of Robinhood accounts that own the USO ETF surged more than 2000%, from ~8,000 in early February to more than 170,000 today. Learn more. © 2020 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. “This difference is because unlike with stocks, a futures contract cannot be held indefinitely in hopes that a fallen price will recover.”, — With assistance by Jack Farchy, and Alex Longley, SEC, CFTC examining whether shareholders knew potential risks, Investigations preliminary, may not lead to enforcement cases. In a filing on Friday, USO said that Marex Spectron will serve as an additional broker. Currency expert Nick Giambruno explains why it could lead to America's next wave of prosperity for prepared investors. USO faces issues separate from regulators’ investigations. He breaks down his simple approach to crisis investing. Even before oil fell to minus $37.63 a barrel on April 20, investors who concluded the rout had bottomed out rushed to purchase shares of USO to bet on a rebound. The fund's entire goal, according to its prospectus, is "to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, [aka WTI Crude] as measured by the daily changes in the price of a specified short-term futures contract on light, … Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Learn more. As it got bigger, the ETF attracted legions of mom-and-pop investors who saw it as an easy and simple way to wager on oil. The Gains May Not Last. Despite being down -75% year-to-date, assets under management in USO have more than quadrupled from $1 billion in early 2020 to $4.6 billion today, according to data from YCharts. Intraday Data provided by FACTSET and subject to terms of use. Read More: For Creators of USO ETF, Troubles in Market Began a Decade Ago. The stock had previously closed at $26.47. The USO ETF is … According to the filing, "RBC has indicated that such limitation on USO is a result of RBC's own internal risk management requirements and directions it has received from other regulators in the United States, Canada, and the United Kingdom.". For the best MarketWatch.com experience, please update to a modern browser. In less than two weeks, the largest U.S. oil ETF -- which has the stated objective of tracking current oil prices -- went from 100% investment in June 2020 WTI futures contracts to 0%. A Biden Presidency Is Very Bullish For Oil Prices, U.S. crude supply fell 5.1M barrels last week, API says, Oil adds 3% as vaccine hopes outweigh potential for new lockdowns, Saudi Aramco's Recent Earnings Highlight Weakening Power Over The Oil Markets, Pfizer's COVID-19 Vaccine Data Rockets Oil And Energy Stocks Higher, The Political Engima Of The Crude Oil Market Going Into 2021, Oil up nearly 10% to above $40 per barrel after Pfizer vaccine data, Q4 Market Update: The Treasury Bubble Has Burst, Weekly Energy Recap: East Vs. West; The Race For Market Recovery, Oil, energy stocks tank as rising COVID cases threaten economic rebound, U.S. crude supply fell 8M barrels last week, API says, Hurricanes Impact U.S. August Oil Production, OPEC+ Will Likely Agree To An Extra 3-Month Extension, Energy leading again with crude back in comfort zone: At the Open, Oil: EIA's August U.S. Oil Production Data Suggests A Far Gloomier Outlook, Equities Oversold, Elections An Overhyped Event Risk, Financial Square Government Fund FST Shares, U.S. Government Money Market Fund RBC Insti Cl 1, Fidelity Series Government Money Market Fund. A combination of technologies that takes regular 5G – and turbocharges it. Stock quotes by finanzen.net. USO FINAL DEADLINE TODAY: ROSEN, TRUSTED NATIONAL TRIAL COUNSEL, Reminds United States Oil Fund, LP Investors of Important August 18 Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $750K to Contact Firm - USO GlobeNewswire - … When the United States Oil fund isn't actually investing in the current price of United States oil, it's a huge red flag that U.S. oil prices aren't likely to recover anytime soon. The fund said in an April 24 SEC filing that investors should expect “continued deviations” between USO’s performance and the WTI benchmark, in part due to the new restrictions. Read more: 'It works for anything I look at': BlackRock's bond chief who oversees $2.3 trillion shares the 'really simple' 3-part framework that guides every investment decision he makes - and outlines 2 factors he looks for in a company. U.S. oil price drops nearly 25% to finish below $13 a barrel, USO sinks 15 % as biggest oil ETF revamps fund composition for third time in April, Light sweet crude slumps 14% as oil takes another beating. He’s now moved $3.8 BILLION in a tiny niche of the tech sector billionaires are flocking to. Subscriber Agreement & Terms of Use, Such extreme concentration prompted CME to inform USO in late April that it was placing limits on the fund’s holdings of June, July, August and September contracts. Do Not Sell My Information. © 2020 Insider Inc. and finanzen.net GmbH (Imprint). The fund's entire goal, according to its prospectus, is "to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, [aka WTI Crude] as measured by the daily changes in the price of a specified short-term futures contract on light, sweet crude oil called the 'Benchmark Oil Futures Contract.'". In other words, it was starting to invest in contracts that were further into the future than normal, a sign that oil prices might fall in the short term. That caused the price of those contracts to drop 26.7%. Here are the trades that hurt the most, ‘Constitutional crisis’ could unleash wave of stock-market selling, says CNBC’s Cramer, Trump backs Ronna McDaniel for another term leading RNC, Republican senator says ‘I will step in’ if Biden doesn’t get intel briefings by Friday, Fever, symptom screening misses many coronavirus cases, TikTok seeks extension from U.S. as Thursday divesture deadline looms, United States Oil Fund May Face Enforcement Action From SEC, Popular oil ETF USO receives letter of possible enforcement action from the SEC after fund's collapse in April, It’s ‘no fun’ to be a small fund manager most of the time, Jan van Eck says — but right now is an exception, The Future of ETFs, and Why Sustainable-Investing Indexes Will Be a Trillion-Dollar Business, Oil finishes higher with supply cuts and pickup in demand lifting U.S. prices by more than 3%, USO says it may have to hold larger amounts of Treasurys and cash, ETF giants want better labeling.