In Wednesday’s options trading we noticed bullish call buying in U.S. Oil Fund (NYSEArca: USO) as the exchange traded fund is within shouting distance of its highest price level in nearly a year.
There are many ETFs and exchange traded notes that follow oil futures.
USO still remains the most popular fund in terms of asset level ($1.6 billion in assets), and average daily trading volume (10.3 million shares), but there have been many newer product releases in the space that have delivered encouraging real performance results over time. [ETF Chart of the Day: Oil Services]
Brent Oil continues to outperform NYMEX Light Sweet Crude Oil, as U.S. Brent Oil Fund (NYSEArca: BNO) is up 11.36% just year to date versus USO up 2.81%.
Other funds that have been gaining an institutional following and thus assets include Teucrium Crude Oil (NYSE: CRUD), which is up 4.24% year to date, Powershares DB Oil (NYSEArca: DBO), which has rallied 4.31% year to date, and U.S. 12 Month Oil Fund (NYSEArca: USL) which is up 4.62%.