United States Gasoline Fund (NYSEARCA:UGA) Trading Down 2.7%

United States Gasoline Fund LP (NYSEARCA:UGA)’s share price traded down 2.7% during mid-day trading on Thursday . The company traded as low as $58.07 and last traded at $58.09. 20,624 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 34,739 shares. The stock had previously closed at $59.74.

United States Gasoline Fund Price Performance

The business’s fifty day simple moving average is $62.09 and its 200-day simple moving average is $66.29.

Hedge Funds Weigh In On United States Gasoline Fund

Hedge funds have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in shares of United States Gasoline Fund in the second quarter valued at about $2,043,000. Thrivent Financial for Lutherans lifted its holdings in United States Gasoline Fund by 36.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 17,734 shares of the company’s stock worth $1,199,000 after purchasing an additional 4,731 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in United States Gasoline Fund by 7.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 159,762 shares of the company’s stock valued at $10,800,000 after buying an additional 10,870 shares in the last quarter. Pettinga Financial Advisors LLC grew its holdings in United States Gasoline Fund by 1.3% during the 2nd quarter. Pettinga Financial Advisors LLC now owns 16,466 shares of the company’s stock valued at $1,113,000 after buying an additional 215 shares in the last quarter. Finally, Professional Financial Advisors LLC raised its position in shares of United States Gasoline Fund by 22.9% during the second quarter. Professional Financial Advisors LLC now owns 12,678 shares of the company’s stock valued at $857,000 after buying an additional 2,365 shares during the last quarter.

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.