United States Oil Fund
The United States Oil Fund® LP ("USO") is a domestic exchange-traded security designed to track the movements of West Texas Intermediate ("WTI") light, sweet crude oil. USO issues units that may be purchased and sold on the NYSE Arca.
The investment objective of USO is for the daily changes in percentage terms of its units' net asset value ("NAV") to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil, as measured by the changes in price of the futures contract on light, sweet crude oil traded on the NYMEX that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire (the "Benchmark Oil Futures Contract"), less USO’s expenses.
Crude oil is one of the most important physical commodities in the global economy. Light, sweet crude oil futures are the most actively traded futures contracts and represent the primary US benchmark for crude oil.
The portfolio consists of listed crude oil futures contracts and other oil-related futures and may consist of forwards and swap contracts. These investments will be collateralized by cash, cash equivalents and US government obligations with remaining maturities of two years or less.
- USO provides a vehicle to hedge crude oil movements or take directional positions on oil prices.
- USO offers the convenience of an exchange-traded security (NYSE Arca).
- USO permits commodity-like exposure without using a commodity futures account.
- USO provides "equity-like" order flexibility, including market, limit, stop, stop limit and Good-Til-Cancelled ("GTC") orders.
- USO provides Market Price, NAV, and Portfolio Holdings on a daily basis.
|Intraday Indicative Value||USO.IV|
|Minimum Trade||1 share|
|Administrator||Brown Brothers Harriman & Co|
|Distributor||ALPS Distributors, Inc.|
|General Partner||United States Commodity Funds, LLC|