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

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

United States Gasoline Fund Stock Performance

The stock has a 50-day simple moving average of $62.44 and a 200-day simple moving average of $66.41.

Institutional Trading of United States Gasoline Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in UGA. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of United States Gasoline Fund by 116.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 153,818 shares of the company’s stock valued at $10,910,000 after acquiring an additional 82,686 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of United States Gasoline Fund during the 2nd quarter valued at $2,043,000. Commonwealth Equity Services LLC increased its position in shares of 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 purchasing an additional 10,870 shares during the period. Pettinga Financial Advisors LLC raised its stake in shares of United States Gasoline Fund by 201.2% in the 1st quarter. Pettinga Financial Advisors LLC now owns 16,251 shares of the company’s stock worth $1,153,000 after buying an additional 10,856 shares in the last quarter. Finally, PFG Advisors bought a new position in United States Gasoline Fund during the first quarter valued at about $467,000.

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.