Tru-Oil is a good basic sealer, but I do not believe it is waterproof. It is simply a good boiled linseed base, with resins and hardners added. It looks waterproof, but it is not. It does, however, provide very substantial protection against the elements.
For true waterproofing, you need to go to a sealer that is polyurethene based. There are some good spray on polyurethence finishes, that actually have some oil blended into them so you can get a good satin oil like finish.
However, since you have treated your stock with Tru-Oil, you cannot now put polyurethene over top of it. It won't permanently stick. You would have to totally and completely strip the entire Tru-Oil finish down to totally bare dry wood. I believe this would be foolish, because the stripping and sanding activities will probably do more harm to your stock than the minor water-proofing benefits you will achieve from the poly finish.
Big Paulie