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Stock impact report

Largest oil ETF USO shakes up its strategy again as oil price falls through the floor [MarketWatch]

CME Group Inc. - Class A (CME) 
Last cme group inc. - class a earnings: 4/29 07:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.cmegroup.com
Company Research Source: MarketWatch
United States Oil Fund LP on Tuesday announced it would diversify its exposure to futures contracts reflecting the price of crude oil in an effort to smooth out its value. The exchange-traded fund has lost nearly one-third of its value in the week to date, as the global glut of oil weighs on prices. Beginning Tuesday, USO will invest approximately 40% of its portfolio in crude oil futures contracts for June, approximately 55% of its portfolio in contracts for July, and approximately 5% of its portfolio in crude oil contracts for August. The changes for the largest and most liquid oil ETF comes after the product was blamed for helping to amplify a steep decline in crude-oil prices, highlighted by a historic plunge of the May contract for West Texas Intermediate oil trading on the New York Mercantile Exchange closing at negative $37.63 a barrel on Monday, marking a historic drop for the front-month contract and sending waves throughout the energy complex. USO's previous structure meant Show less Read more
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