United States Gasoline Fund (NYSEARCA:UGA) Trading Up 0.5% – Still a Buy?

United States Gasoline Fund LP (NYSEARCA:UGA) shares shot up 0.5% on Thursday . The stock traded as high as $72.34 and last traded at $71.82. 17,997 shares traded hands during trading, a decline of 37% from the average session volume of 28,600 shares. The stock had previously closed at $71.49.

United States Gasoline Fund Price Performance

The business has a 50-day simple moving average of $66.43 and a 200-day simple moving average of $65.16.

Hedge Funds Weigh In On United States Gasoline Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC purchased a new position in United States Gasoline Fund in the fourth quarter valued at $30,000. JPMorgan Chase & Co. boosted its position 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 acquiring an additional 239 shares in the last quarter. Motiv8 Investments LLC purchased a new position in shares of United States Gasoline Fund in the 4th quarter valued at about $44,000. Osaic Holdings Inc. increased its holdings in shares of 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 acquiring an additional 533 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of United States Gasoline Fund during the 3rd quarter worth about $124,000.

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.