Trading in the United States Oil Fund, a popular exchange-traded security known for its ‘USO’ ticker which is supposed to track the price of oil and is popular with retail investors, was briefly halted Tuesday before the opening bell. It dropped 17% after resuming trading, and losses accelerated throughout the day. In afternoon trading, shares were down nearly 30%.
The halt came after USCF, the manager of the fund, said that it was temporarily suspending the issuance of so-called creation baskets.
