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

United States Gasoline Fund LP (NYSEARCA:UGA)’s stock price traded down 1.1% on Thursday . The stock traded as low as $67.97 and last traded at $68.49. 11,964 shares changed hands 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’s 50-day moving average is $64.48 and its two-hundred day moving average is $64.30.

Hedge Funds Weigh In On United States Gasoline Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in 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 during the period. Osaic Holdings Inc. raised its position in shares of United States Gasoline Fund by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,894 shares of the company’s stock worth $114,000 after purchasing an additional 533 shares during the period. EverSource Wealth Advisors LLC bought a new position in United States Gasoline Fund in the third quarter valued at approximately $124,000. Advisory Services Network LLC acquired a new stake in shares of United States Gasoline Fund in the 3rd quarter valued at about $138,000. Finally, Tucker Asset Management LLC acquired a new stake in United States Gasoline Fund in the 4th quarter valued at 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.