Oil level indicates loss

I have a new Mopar 360 magnum crate. It has been in the car about 4 months, runs good, sounds good. It has about 500 miles on it and I have changed the oil once since install. It doesn't smoke and there are no oil leaks but I have had to add a qt. and a 1/2 of oil to it a couple of days ago.

I am puzzled. Is there something I should check our am I worrying about nothing?