United States Gasoline Fund LP (NYSEARCA:UGA) Sees Large Decrease in Short Interest

United States Gasoline Fund LP (NYSEARCA:UGA) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 31,904 shares, a drop of 70.0% from the July 30th total of 106,331 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily trading volume, of 54,217 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On United States Gasoline Fund

A number of institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of United States Gasoline Fund during the fourth quarter worth about $30,000. Ascentis Independent Advisors acquired a new position in United States Gasoline Fund in the 1st quarter valued at about $31,000. JPMorgan Chase & Co. raised 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 acquiring an additional 239 shares during the last quarter. Motiv8 Investments LLC purchased a new stake in United States Gasoline Fund during the 4th quarter valued at approximately $44,000. Finally, Osaic Holdings Inc. lifted its position in United States Gasoline Fund by 39.2% during the 2nd 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 period.

United States Gasoline Fund Trading Up 1.8%

UGA traded up $2.15 during trading on Thursday, hitting $124.29. 5,580 shares of the stock were exchanged, compared to its average volume of 55,468. United States Gasoline Fund has a 1-year low of $60.40 and a 1-year high of $127.29. The stock has a fifty day moving average price of $113.62 and a two-hundred day moving average price of $103.86.

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.