United States Gasoline Fund (NYSEARCA:UGA) Trading 0.8% Higher – Still a Buy?

United States Gasoline Fund LP (NYSEARCA:UGA)’s share price traded up 0.8% during trading on Monday . The stock traded as high as $107.05 and last traded at $105.89. 18,879 shares traded hands during trading, a decline of 70% from the average session volume of 63,624 shares. The stock had previously closed at $105.09.

United States Gasoline Fund Stock Performance

The firm has a 50-day moving average of $109.40 and a 200 day moving average of $84.68.

Institutional Investors Weigh In On United States Gasoline Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in 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 buying an additional 239 shares during the period. Ascentis Independent Advisors purchased a new stake in shares of United States Gasoline Fund in the first quarter worth approximately $31,000. Cetera Investment Advisers raised its stake in shares of United States Gasoline Fund by 1.0% in the first quarter. Cetera Investment Advisers now owns 37,402 shares of the company’s stock worth $3,865,000 after purchasing an additional 374 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of United States Gasoline Fund in the fourth quarter worth approximately $30,000. Finally, Osaic Holdings Inc. raised its stake in shares of United States Gasoline Fund by 39.2% in the second 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 last quarter.

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.