Please read the Fund’s Prospectus carefully before investing. Starting the next day on April 29, shareholders will see the impact.
AN INVESTMENT IN USO SHOULD NOT BE VIEWED AS AN INVESTMENT IN THE BENCHMARK OIL FUTURES CONTRACT OR LIGHT SWEET CRUDE OIL. Share values after that date may be compared to 8 shares from before that date.
Learn everything about United States Oil Fund LP (USO). Specifically, during April 2020, the factors requiring USO to exercise greater discretion included, without limitation: These events severely limited USO’s ability to have a substantial portion of its assets invested in the Benchmark Oil Futures Contract. WHILE INVESTING IN USO INVOLVES RISKS SIMILAR TO THOSE INVOLVED WITH AN INVESTMENT DIRECTLY IN THE OIL MARKET, USO IS NOT A PROXY FOR TRADING DIRECTLY IN THE OIL MARKETS AND THESE RISKS ARE REAL. What's likely to happen is that the stock price for the new shares after the reverse split will be about eight times higher than their price from before the reverse split. USCI, USO, USL, BNO, UNG, UNL, UGA, and CPER are commodity pools regulated by the Commodity Futures Trading Commission.
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Investment in small companies generally experience greater price volatility. United States Commodity Funds LLC and USCF Advisers LLC are wholly owned limited liability companies of Wainwright Holdings, Inc. ALPS Distributors, Inc., is the distributor for funds sponsored by the United States Commodity Funds LLC and funds that are series of the USCF ETF Trust and USCF Mutual Funds Trust and not affiliated with USCF Investments or Wainwright Holdings, Inc. Shares of the funds that are exchange-traded products (ETPs) or exchange-traded funds (ETFs) are not individually redeemable and owners of any Shares may acquire those Shares from the Funds and tender those shares for redemption to the Funds in Creation Unit aggregations of 50,000 or 100,000 Shares. Market conditions, evolving regulatory requirements and risk mitigation measures implemented by certain of USO’s service providers, have made it necessary for USO to exercise greater discretion in investing than it has in the past. The amount that the Fund's market price is above the reported NAV is called the premium. This information is intended for U.S. residents. Actual rates are subject to change daily and may vary. Past performance does not guarantee future results. Share price returns are based on closing prices for the Fund and do not represent the returns an investor would receive if shares were traded at other times. The market value of shares of common stock can be volatile and change quickly. These Funds, which are ETPs, are not mutual funds or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and are not subject to regulation thereunder. Foreign investing involves special risks such as currency fluctuations and political uncertainty. An investment in the USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) may not be suitable for all investors. If such deviation had continued over a period of 30 successive valuation days, USO would not have met its stated investment objective. INVESTING IN USO INVOLVES RISKS SIMILAR TO THOSE INVOLVED WITH AN INVESTMENT DIRECTLY IN THE OIL FUTURES MARKETS, BUT IT IS NOT A PROXY FOR TRADING DIRECTLY IN THE OIL MARKETS AND THESE RISKS ARE REAL. Specifically, USO seeks for the average daily percentage change in USO’s net asset value, for any period of 30 successive valuation days, to be within plus/minus 10% of the average daily percentage change in the price of the Benchmark Oil Futures Contract over the same period. NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE. The fund opened on its first day of trading at $68.25 per share. The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund's reported NAV.
Performance may be lower or higher than performance data quoted. [4], The United States Oil Fund was founded in April 10th, 2006 by Victoria Bay Asset Management, now known as United States Commodity Funds,[5][6] and the American Stock Exchange. Find out more about how we use your information in our Privacy Policy and Cookie Policy. [7][8] USO's investment objective is to include the changes in percentage terms of its units' net asset value 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. Moreover, as a result of such market conditions, the regulatory limitations imposed on USO and the risk mitigation measures described below, there is considerable uncertainty as to whether USO will be able to achieve the same level of success as before in meeting its investment objective. USO’s futures broker constrained USO’s ability to invest in the Benchmark Oil Futures Contract. When comparing historical prices, account for an 8-to-1 reverse-split on April 28, 2020. Investing in commodity interests subject each Fund to the risks of its related industry.
The performance data quoted above represents past performance. However, notwithstanding that there may have been deviations greater than plus/minus 10% on certain days in the month of April, as demonstrated by the chart below, titled Rolling 30-day average difference between USO’s NAV and the Benchmark Oil Futures Contract, this trend did not continue on a rolling 30-day basis and, as a result USO met, and continues to meet, its investment objective. More specifically, USO’s limited ability to invest in the Benchmark Oil Futures Contract together with its investments in oil futures contracts other than the Benchmark Oil Futures Contract has impacted and could continue to impact the performance of USO and may make it difficult for USO to closely track the Benchmark Oil Futures Contract or meet its investment objective of having the change in its NAV for any period of 30 successive valuation days be within plus/minus ten percent (10%) of the average daily percentage change in the price of the Benchmark Oil Futures Contract over the same period. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. Find the latest quotes for United States Oil Fund (USO) as well as ETF details, charts and news at Nasdaq.com. The United States Oil Fund (NYSE Arca: USO) is an exchange-traded fund (ETF) that attempts to track the price of West Texas Intermediate Light Sweet Crude Oil.
Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing. - Focus on Funds - Barrons.com", http://www.institutionalinvestor.com/article/1961582/Research/4025/Overview.html, "USO Historical Quote - United States Oil Fund LP", "USO ETF pushes oil futures exposure out to June 2021", https://en.wikipedia.org/w/index.php?title=United_States_Oil_Fund&oldid=966055616, Articles lacking reliable references from November 2009, Creative Commons Attribution-ShareAlike License, This page was last edited on 4 July 2020, at 23:34.
the last thirty business days, and then averaging those thirty differences. Historical shares outstanding, net asset value per share has been adjusted to reflect the 1-for-8 reverse share split on a retroactive basis. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Fund Details.
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