U.S. Oil Fund ETF Income Falls as Oil Prices Crumble
(Bloomberg) -- The U.S. Oil Fund recorded a net loss of $1.19 billion in March, according to a regulatory filing.
This includes $466 million in realized trading losses on futures and another $725 million on unrealized loss on market value of futures. The value decrease is in line with oil prices in New York crashing 54% in the month.
Retail investors looking for a bottom to the historic price rout have poured record amounts of money into the long oil ETF product, as regulators and speculators are watching any moves by USO closely.
Net assets beginning on March 1 were $1.46 billion, the filing added.
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