United States Gasoline Fund (NYSEARCA:UGA) Trading 0.8% Higher – Still a Buy?

United States Gasoline Fund LP (NYSEARCA:UGA) shares rose 0.8% during trading on Monday . The company traded as high as $107.05 and last traded at $105.89. Approximately 18,879 shares were traded during trading, a decline of 70% from the average daily volume of 63,624 shares. The stock had previously closed at $105.09.

United States Gasoline Fund Trading Up 0.8%

The stock has a 50-day moving average of $109.40 and a 200 day moving average of $84.68.

Hedge Funds Weigh In On United States Gasoline Fund

Several institutional investors and hedge funds have recently bought and sold shares of the company. Exit Wealth Advisors LLC. bought a new position in United States Gasoline Fund during the third quarter valued at $3,089,000. Merit Financial Group LLC bought a new position in United States Gasoline Fund during the fourth quarter valued at $2,856,000. Jane Street Group LLC grew its holdings in United States Gasoline Fund by 666.0% during the first quarter. Jane Street Group LLC now owns 38,799 shares of the company’s stock valued at $2,493,000 after purchasing an additional 33,734 shares during the period. Cetera Investment Advisers grew its holdings in United States Gasoline Fund by 1.0% during the first quarter. Cetera Investment Advisers now owns 37,402 shares of the company’s stock valued at $3,865,000 after purchasing an additional 374 shares during the period. Finally, Blue Capital Inc. grew its holdings in United States Gasoline Fund by 10.1% during the fourth quarter. Blue Capital Inc. now owns 26,763 shares of the company’s stock valued at $1,652,000 after purchasing an additional 2,463 shares during the period.

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.