United States Gasoline Fund (NYSEARCA:UGA) Trading 0.3% Higher – Still a Buy?

United States Gasoline Fund LP (NYSEARCA:UGA) shot up 0.3% during mid-day trading on Friday . The stock traded as high as $113.29 and last traded at $111.65. 18,021 shares traded hands during trading, a decline of 69% from the average daily volume of 58,150 shares. The stock had previously closed at $111.31.

United States Gasoline Fund Stock Up 0.3%

The firm’s 50 day simple moving average is $109.31 and its two-hundred day simple moving average is $98.62.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new stake in United States Gasoline Fund in the fourth quarter valued at approximately $30,000. Ascentis Independent Advisors bought a new position in shares of United States Gasoline Fund in the 1st quarter worth $31,000. JPMorgan Chase & Co. lifted its holdings in shares of United States Gasoline Fund by 73.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 566 shares of the company’s stock worth $36,000 after purchasing an additional 239 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in United States Gasoline Fund in the 4th quarter valued at $44,000. Finally, Osaic Holdings Inc. grew its position in United States Gasoline Fund by 39.2% in the 2nd quarter. Osaic Holdings Inc. now owns 1,894 shares of the company’s stock valued at $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.