For the week ended Aug. 14, the United States Oil Fund (NYSEArca: USO) added $194.3 million in new assets, a total surpassed by just six other ETFs. Investors have added nearly $1.9 billion to USO this year even as the fund has tumbled nearly 31%.
Traders can profit from more oil declines with ETFs such as the ProShares UltraShort Bloomberg Crude Oil (NYSEArca: SCO) and the VelocityShares 3x Inverse Crude (NYSEArca: DWTI). SCO tries to reflect the two times inverse or -200% daily performance of WTI crude oil while DWTI takes the three times inverse or -300% performance of crude oil. [Inverse ETFs to Hedge Against Hurdles Ahead]
While those ETFs have surged in recent weeks, traders have been reluctant to add new money to thise funds.
United States Oil Fund