United States Gasoline Fund LP (NYSEARCA:UGA) Short Interest Up 61.9% in July

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

Institutional Investors Weigh In On United States Gasoline Fund

A number of hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new position in United States Gasoline Fund during the fourth quarter valued at about $500,000. Private Advisor Group LLC bought a new stake in United States Gasoline Fund in the first quarter worth about $489,000. Merit Financial Group LLC bought a new stake in United States Gasoline Fund in the fourth quarter worth about $2,856,000. Three Seasons Wealth LLC purchased a new position in United States Gasoline Fund in the first quarter valued at about $423,000. Finally, Ascentis Independent Advisors purchased a new position in United States Gasoline Fund in the first quarter valued at about $31,000.

United States Gasoline Fund Stock Up 1.4%

Shares of UGA traded up $1.68 during trading hours on Tuesday, reaching $125.28. 21,619 shares of the stock traded hands, compared to its average volume of 57,068. The stock has a fifty day simple moving average of $110.85 and a 200 day simple moving average of $101.13. United States Gasoline Fund has a 52 week low of $60.40 and a 52 week high of $126.75.

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.