The United States Oil Fund is an exchange-traded fund (ETF) that attempts to track the price of West Texas Intermediate (WTI) Light Sweet Crude Oil.[1][2] It is distinguished from an exchange-traded note (ETN) since it represents an ownership claim on underlying securities that the fund has packaged.[3] USO invests in oil futures contracts that are traded on regulated futures exchanges.[4]
 | |
| Company type | Exchange-traded fund |
|---|---|
| NYSE Arca: USO | |
| Industry | Investment management |
| Founded | April 10, 2006 |
Key people | John Love (President) |
| Owner | United States Commodity Funds |
| Website | www |
Background
editThe United States Oil Fund was founded on April 10, 2006, by Victoria Bay Asset Management, now known as United States Commodity Funds,[5][6] and the American Stock Exchange. The fund opened on its first day of trading at $68.25 per share.[7][8] USO's investment objective is to include the changes in percentage terms of its units' net asset value (NAV) in its evaluation of the changes in percentage terms of the spot price of light, sweet crude oil as measured by its price on the New York Mercantile Exchange (NYMEX).[9] Its performance is determined by the price of oil through its oil futures contracts.[10][11]
See also
editReferences
edit- ^ United States Oil Fund
- ^ "Should Investors Drill for Oil ETFs? - Focus on Funds - Barrons.com". Barron's.
- ^ Jones, Gerald; Johnson, Charles (2016). Investments: Analysis and Management. Hoboken, NJ: John Wiley & Sons. p. 60. ISBN 978-1-118-97558-9.
- ^ Woods, Jennifer (2009). The Active Asset Allocator: How ETF's Can Supercharge Your Portfolio. Penguin. ISBN 978-1-101-16311-5.
- ^ "Victoria Bay Changes Name | Institutional Investor". www.institutionalinvestor.com. Archived from the original on 2017-02-17.
- ^ "USO - USCF Investments".
- ^ "USO Historical Quote - United States Oil Fund LP".
- ^ When comparing historical prices, account for an 8-to-1 reverse-split on April 28, 2020. Share values after that date may be compared to 8 shares from before that date.
- ^ Commission, United States Securities and Exchange (2012). SEC Docket. Securities and Exchange Commission. p. 3575.
- ^ Rhoads, Russell (2011). Trading VIX Derivatives: Trading and Hedging Strategies Using VIX Futures, Options, and Exchange-Traded Notes. Hoboken, NJ: John Wiley & Sons. ISBN 978-1-118-11848-1.
- ^ "USO ETF pushes oil futures exposure out to June 2021". ETF Strategy. 2020-04-27. Retrieved 2020-07-04.