United States Gasoline Fund LP (NYSEARCA:UGA – Get Free Report)’s stock price rose 0.8% during mid-day trading on Monday . The stock traded as high as $107.05 and last traded at $105.89. Approximately 18,879 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 63,624 shares. The stock had previously closed at $105.09.
United States Gasoline Fund Stock Up 2.6%
The company has a fifty day simple moving average of $109.42 and a 200-day simple moving average of $84.95.
Hedge Funds Weigh In On United States Gasoline Fund
Hedge funds have recently modified their holdings of the business. Ascentis Independent Advisors purchased a new position in shares of United States Gasoline Fund during the 1st quarter worth $31,000. Steward Partners Investment Advisory LLC purchased a new position in shares of United States Gasoline Fund during the 4th quarter worth $30,000. JPMorgan Chase & Co. grew its holdings in shares of United States Gasoline Fund by 73.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 566 shares of the company’s stock worth $36,000 after purchasing an additional 239 shares during the period. Motiv8 Investments LLC purchased a new position in shares of United States Gasoline Fund during the 4th quarter worth $44,000. Finally, Osaic Holdings Inc. grew its holdings in shares of United States Gasoline Fund by 39.2% during the 2nd quarter. Osaic Holdings Inc. now owns 1,894 shares of the company’s stock worth $114,000 after purchasing an additional 533 shares during the period.
United States Gasoline Fund Company Profile
United States Gasoline Fund, LP (UGA) is a commodity pool that issues limited partnership interests (shares). The Company is engaged in the trading of futures contracts, options on futures contracts and cleared swaps (derivatives). The investment objective of UGA is for the daily changes in percentage terms of its shares’ per share net asset value to reflect the daily changes in percentage terms of the spot price of gasoline, as measured by the daily changes in the price of the futures contract for gasoline traded on the New York Mercantile Exchange (the NYMEX), that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case the futures contract will be the next month contract to expire, less UGA’s expenses.
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