United States Gasoline Fund (NYSEARCA:UGA) Shares Down 0.6% – Here’s Why

United States Gasoline Fund LP (NYSEARCA:UGA) shares were down 0.6% during trading on Friday . The company traded as low as $66.10 and last traded at $66.14. Approximately 92,995 shares traded hands during mid-day trading, an increase of 171% from the average daily volume of 34,327 shares. The stock had previously closed at $66.53.

United States Gasoline Fund Price Performance

The business has a fifty day moving average price of $62.32 and a 200 day moving average price of $62.77.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in United States Gasoline Fund during the 2nd quarter worth approximately $2,043,000. National Wealth Management Group LLC acquired a new stake in United States Gasoline Fund during the 3rd quarter worth approximately $563,000. Thrivent Financial for Lutherans lifted its position in United States Gasoline Fund by 36.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 17,734 shares of the company’s stock worth $1,199,000 after acquiring an additional 4,731 shares during the period. Park Avenue Securities LLC acquired a new stake in United States Gasoline Fund during the 3rd quarter worth approximately $204,000. Finally, Roman Butler Fullerton & Co. lifted its position in United States Gasoline Fund by 43.9% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 9,524 shares of the company’s stock worth $589,000 after acquiring an additional 2,905 shares during the period.

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.