United States Oil Fund
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The United States Oil Fund (USO:AMEX) is an Exchange-traded fund which invests in many products related to the petroleum sector.
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[edit] History
The United States Oil Fund was founded in April of 2006 by the Victoria Bay Asset Management along with the American Stock Exchange. The fund opened on its first day of trading around $67/share. During the first year of trading, the fund declined about 22%. As of December 20, 2007, USO was up 37% in its second year, and it was up about 8% since its public offering.
[edit] Strategy
The United States Oil Fund's strategy relies mainly on trading futures of West Texas Intermediate (WTI) light sweet crude oil. The fund also trades futures of crude oil, heating oil, gasoline, and natural gas. They may also invest in products such as cash-settled options on future oil contracts, forward contracts for oil, and OTC transactions based on the price of oil. The fund is non-diversified.
[edit] Reference
[1][unitedstatesoilfund.com]
[edit] References
- ^ united states oil fund
