Bank of Montreal Amends USO Holdings to 13,161 Shares
Ticker: USO · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 1327068
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, ETF, oil
Related Tickers: USO
TL;DR
**Bank of Montreal now owns 13,161 shares of USO as of Dec 31, 2023.**
AI Summary
Bank of Montreal filed an amended SC 13G/A for the United States Oil Fund, LP (USO), reporting beneficial ownership of 13,161 Common Shares as of December 31, 2023. This filing indicates a change in their holdings, as it's an amendment, and shows they have sole voting and dispositive power over these shares. This matters to investors because it provides transparency into institutional ownership changes, which can sometimes signal shifts in sentiment or strategy from major financial players regarding the underlying asset, crude oil.
Why It Matters
This filing shows Bank of Montreal's updated stake in the United States Oil Fund, LP, offering transparency into institutional investment activity in a key oil-tracking ETF.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of institutional ownership and does not indicate significant risk to the company or its investors.
Analyst Insight
Investors should note Bank of Montreal's updated position in USO as part of their broader institutional ownership analysis, but this specific filing alone doesn't suggest a strong buy or sell signal.
Key Numbers
- 13,161 — Common Shares (Bank of Montreal's sole voting and dispositive power over USO shares)
Key Players & Entities
- Bank of Montreal (company) — the reporting person beneficially owning shares
- United States Oil Fund, LP (company) — the issuer of the securities
- 13,161 (dollar_amount) — number of Common Shares beneficially owned
- December 31, 2023 (date) — the date of the event requiring the filing
Forward-Looking Statements
- Bank of Montreal will maintain a similar level of ownership in USO for the next quarter. (Bank of Montreal) — medium confidence, target: March 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 1) to a previous Schedule 13G, indicating a change in the beneficial ownership of securities by Bank of Montreal in the United States Oil Fund, LP, as required by the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person in this filing is BANK OF MONTREAL /CAN/, with a Central Index Key (CIK) of 0000927971.
What is the name of the issuer whose securities are being reported?
The issuer of the securities is United States Oil Fund, LP, with a Central Index Key (CIK) of 0001327068.
How many shares does Bank of Montreal beneficially own as per this filing?
As of December 31, 2023, Bank of Montreal beneficially owns 13,161 Common Shares of the United States Oil Fund, LP, with both sole voting power and sole dispositive power over these shares.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the Common Shares of the United States Oil Fund, LP is 91232N207.
Filing Stats: 3,261 words · 13 min read · ~11 pages · Grade level 10.5 · Accepted 2024-02-09 10:59:13
Filing Documents
- usoa1_20824.htm (SC 13G/A) — 70KB
- 0001085146-24-000939.txt ( ) — 72KB
(a)
ITEM 1(a). NAME OF ISSUER: United States Oil Fund LP
(b)
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 1850 Mt. Diablo Blvd., Suite 640, Walnut Creek, US-CA, 94596, US
(a)
ITEM 2(a). NAME OF PERSON FILING: BANK OF MONTREAL BANK OF MONTREAL HOLDING INC. BMO NESBITT BURNS INC. BMO PRIVATE INVESTMENT COUNSEL INC. BMO FINANCIAL CORP. BMO BANK N.A.
(b)
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 100 King Street West, 21st Floor, Toronto, Ontario, M5X 1A1, Canada
(c)
ITEM 2(c). CITIZENSHIP: Canada Canada Canada United States United States United States
(d)
ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Shares
(e)
ITEM 2(e). CUSIP NUMBER: 91232N207 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [X] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [X] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [ ] An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J); (k) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J), please specify the type of institution: ITEM 4. (a) Amount beneficially owned: 13,161 (b) Percent of class: 0.0% (c) Number of shares as to which the person has: (i) sole power to vote or to direct the vote: BANK OF MONTREAL - 13,161 BANK OF MONTREAL HOLDING INC. - 921 BMO NESBITT BURNS INC. - 921 BMO PRIVATE INVESTMENT COUNSEL INC. - 12 BMO FINANCIAL CORP. - 12,240 BMO BANK N.A. - 12,240 (ii) shared power to vote or to direct the vote: (iii) sole power to dispose or direct the disposition of: BANK OF MONTREAL - 13,161 BANK OF MONTREAL HOLDING INC. - 921 BMO NESBITT BURNS INC. - 921 BMO PRIVATE INVESTMENT COUNSEL INC. - 12 BMO FINANCIAL CORP. - 12,240 B