Cohen’s Point72 Buys Into Biggest Oil ETF Before Rebound
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Point72 Asset Management, the investment firm that manages the wealth of billionaire trader Steve Cohen, bought shares of the biggest U.S. exchange-traded fund that tracks oil prices as crude sank to a six-year low.
The firm bought 1.305 million shares of the U.S. Oil Fund valued at about $22 million in the three months through March 31, according to a quarterly filing with the U.S. Securities and Exchange Commission released on May 15. That accounts for 1.05 percent of the shares outstanding at that time, according to data compiled by Bloomberg.