USCF has launched the United States 3X Oil Fund (USOU) and the United States 3X Short Oil Fund (USOD).
Both funds are exchange-traded products that issue shares that may be purchased and sold on the NYSE Arca. USOU seeks a return that is 300 percent of the return of the West Texas Intermediate light, sweet crude oil futures contract and USOD seeks a return that is –300 percent of the return of the WTI light, sweet crude oil futures contract.
“Over a decade ago, USCF pioneered the single-commodity exchange-traded fund with the launch of the United States Oil Fund (USO). Our new 3X long and 3X short oil funds offer traders and professionals with strong convictions the opportunity to take more concentrated positions in crude oil,” said John Love, president and CEO of USCF.
USOU and USOD expand the suite of oil-based products offered by USCF. USCF’s existing oil-based exchange traded products include:
United States 3X Oil Fund (USOU)
United States Oil Fund (USO)
United States Brent Oil Fund (BNO)
United States 12-Month Oil Fund (USL)
United States Short Oil Fund (DNO)
United States 3X Short Oil Fund (USOD)
USCF operates on the leading edge of product innovation as an asset management firm, offering exchange-traded products, exchange-traded funds and mutual funds. The firm launched its first oil ETP, the United States Oil Fund, in 2006.