Blame it on bottom-fishing or bullish biases, but one of this year’s worst-performing commodities still has supporters in the world of exchange traded products where the slumping United States Oil Fund (NYSE: USO) has been attracting new money.
Bear Territory
“In spite of the sell-off that continues to rule most days in Crude Oil, USO still has managed to attract new assets in 2017 (adding over $460 million YTD via inflows),” said Street One Financial Vice President Paul Weisbruch in a note out Tuesday. “In fact, we have examined the evident “Long Bias” in Crude Oil that seems to prevail in ETF land, at least judging by asset levels and the trend of asset flows regardless of …
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