USO liquidation?

Please help a dumb rookie here. When the fund is "liquidated", does that just force a market sell option for anyone who holds that fund? I am one of the apparent numbskulls who bought this expecting it to be a package of representative oil companies... I now hold about 4000 shares at a basis of $3.65. Put in limit orders to sell it all when I recover my money... but now I am scared it is just going to tumble to zero...?

 

Forced liquidate means what? Give everyone back their shares ? At current price ? Or means the thing goes to zero like a bankrupt company and everyone simply gets the middle finger?
Elaborate please

 

XLE is the etf for oil companies
Type xle holding u will see the companies in it

 

good one,”

 

Thank you. I see that now... sigh.

 

Id like to know the answer to this as well.

 

It's in the prospectus. Why don't you give it a read and fill us all in?

 

Looks like OIH is oil, XLE is Energy, but I am picking up what you are putting down.

 

That´s OK, I read UFO so went long as pretty sure the aliens are coming. Stock market is confusing. Holding my shares anyway, with a little luck once aliens land they´ll scoop up all our oil. We might be able to retire on that one.

 

As Sig said, you can read the prospectus to see under what situations the fund would liquidate it's holdings. If it did so, it would then distribute any remaining cash to the shareholders shareholders. It would be unlikely for it to go to 0 so you would get something.