United States Gasoline Fund (NYSEARCA:UGA) Shares Down 1.1% – Here’s What Happened

United States Gasoline Fund LP (NYSEARCA:UGA) shares fell 1.1% during mid-day trading on Thursday . The company traded as low as $67.97 and last traded at $68.49. 11,964 shares were traded during trading, a decline of 65% from the average session volume of 34,186 shares. The stock had previously closed at $69.24.

United States Gasoline Fund Trading Down 1.1%

The firm has a fifty day simple moving average of $64.48 and a 200-day simple moving average of $64.30.

Institutional Investors Weigh In On United States Gasoline Fund

A number of hedge funds have recently added to or reduced their stakes in UGA. JPMorgan Chase & Co. boosted its stake in shares of 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 acquiring an additional 239 shares in the last quarter. Osaic Holdings Inc. grew 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 acquiring an additional 533 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new stake in United States Gasoline Fund in the 3rd quarter worth $124,000. Advisory Services Network LLC acquired a new stake in United States Gasoline Fund during the third quarter worth about $138,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of United States Gasoline Fund during the 4th quarter worth approximately $152,000.

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.