United States Gasoline Fund (NYSEARCA:UGA) Stock Price Down 2.1% – Here’s Why
by Mitch Edgeman · The Markets DailyShares of United States Gasoline Fund LP (NYSEARCA:UGA – Get Free Report) fell 2.1% on Thursday . The stock traded as low as $97.18 and last traded at $99.24. 52,123 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 41,980 shares. The stock had previously closed at $101.35.
United States Gasoline Fund Trading Up 5.7%
The business’s fifty day simple moving average is $74.86 and its 200-day simple moving average is $68.01.
Hedge Funds Weigh In On United States Gasoline Fund
Several large investors have recently made changes to their positions in UGA. Steward Partners Investment Advisory LLC acquired a new position in shares of United States Gasoline Fund in the fourth quarter worth about $30,000. JPMorgan Chase & Co. boosted its stake in shares of United States Gasoline Fund by 73.1% in the third quarter. JPMorgan Chase & Co. now owns 566 shares of the company’s stock worth $36,000 after acquiring an additional 239 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in shares of United States Gasoline Fund during the fourth quarter worth approximately $44,000. Osaic Holdings Inc. raised its stake 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 last quarter. Finally, EverSource Wealth Advisors LLC purchased a new position in United States Gasoline Fund in the 3rd quarter valued at $124,000.
About United States Gasoline Fund
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.