United States Gasoline Fund (NYSEARCA:UGA) Trading Down 1.1% – Here’s Why

United States Gasoline Fund LP (NYSEARCA:UGA)’s stock price dropped 1.1% on Thursday . The stock traded as low as $67.97 and last traded at $68.49. Approximately 11,964 shares were traded during trading, a decline of 65% from the average daily volume of 34,186 shares. The stock had previously closed at $69.24.

United States Gasoline Fund Stock Up 1.4%

The stock’s fifty day moving average price is $64.53 and its 200 day moving average price is $64.35.

Institutional Trading of United States Gasoline Fund

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position 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 acquiring an additional 239 shares in the last quarter. Pettinga Financial Advisors LLC grew its stake in shares of United States Gasoline Fund by 1.7% during the second quarter. Pettinga Financial Advisors LLC now owns 16,701 shares of the company’s stock worth $1,006,000 after acquiring an additional 275 shares during the last quarter. Park Avenue Securities LLC boosted its stake in United States Gasoline Fund by 12.2% in the 3rd quarter. Park Avenue Securities LLC now owns 4,701 shares of the company’s stock worth $303,000 after purchasing an additional 513 shares in the last quarter. Osaic Holdings Inc. boosted 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 worth $114,000 after purchasing an additional 533 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in United States Gasoline Fund by 34.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,581 shares of the company’s stock worth $159,000 after purchasing an additional 664 shares during the last quarter.

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.