United States Gasoline Fund LP (NYSEARCA:UGA) Sees Large Increase in Short Interest

United States Gasoline Fund LP (NYSEARCA:UGA) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 106,331 shares, an increase of 61.9% from the July 15th total of 65,676 shares. Based on an average daily volume of 49,381 shares, the days-to-cover ratio is presently 2.2 days. Approximately 9.7% of the company’s shares are short sold.

Institutional Trading of United States Gasoline Fund

Several institutional investors and hedge funds have recently made changes to their positions in UGA. CoreCap Advisors LLC grew its holdings in United States Gasoline Fund by 250.7% during the 2nd quarter. CoreCap Advisors LLC now owns 3,058 shares of the company’s stock worth $315,000 after acquiring an additional 2,186 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of United States Gasoline Fund by 96.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,079 shares of the company’s stock valued at $525,000 after purchasing an additional 2,498 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of United States Gasoline Fund by 1.0% in the 1st 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 period. Three Seasons Wealth LLC bought a new position in shares of United States Gasoline Fund during the first quarter valued at approximately $423,000. Finally, Ascentis Independent Advisors bought a new position in shares of United States Gasoline Fund during the first quarter valued at approximately $31,000.

United States Gasoline Fund Trading Down 0.8%

UGA traded down $0.95 during trading on Wednesday, hitting $124.33. 3,358 shares of the stock were exchanged, compared to its average volume of 56,765. The firm has a 50 day simple moving average of $111.27 and a 200 day simple moving average of $101.53. United States Gasoline Fund has a 1 year low of $60.40 and a 1 year high of $126.75.

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.