Short Interest in United States Gasoline Fund LP (NYSEARCA:UGA) Increases By 81.6%

United States Gasoline Fund LP (NYSEARCA:UGA) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 47,778 shares, an increase of 81.6% from the April 15th total of 26,304 shares. Based on an average daily volume of 63,896 shares, the days-to-cover ratio is currently 0.7 days. Currently, 4.2% of the company’s stock are sold short.

Institutional Investors Weigh In On United States Gasoline Fund

A number of hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew 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 valued at $36,000 after purchasing an additional 239 shares in the last quarter. Ascentis Independent Advisors acquired a new position in shares of United States Gasoline Fund in the 1st quarter worth approximately $31,000. Cetera Investment Advisers grew 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 acquiring an additional 374 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of United States Gasoline Fund in the 4th quarter worth approximately $30,000. Finally, Park Avenue Securities LLC grew its position in shares of 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 acquiring an additional 513 shares in the last quarter.

United States Gasoline Fund Stock Performance

Shares of NYSEARCA UGA opened at $122.74 on Monday. United States Gasoline Fund has a fifty-two week low of $57.63 and a fifty-two week high of $124.60. The business has a 50 day moving average price of $104.13 and a two-hundred day moving average price of $79.75.

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.