United States Gasoline Fund (NYSEARCA:UGA) Trading Up 2% – Should You Buy?

United States Gasoline Fund LP (NYSEARCA:UGA) shares were up 2% during mid-day trading on Monday . The stock traded as high as $102.81 and last traded at $102.51. Approximately 14,208 shares traded hands during trading, a decline of 76% from the average daily volume of 59,777 shares. The stock had previously closed at $100.52.

United States Gasoline Fund Stock Up 2.0%

The business’s fifty day simple moving average is $109.64 and its 200 day simple moving average is $88.56.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Exit Wealth Advisors LLC. acquired a new stake in United States Gasoline Fund during the third quarter worth about $3,089,000. Merit Financial Group LLC acquired a new position in United States Gasoline Fund in the fourth quarter valued at approximately $2,856,000. Jane Street Group LLC boosted its stake in United States Gasoline Fund by 666.0% in the first quarter. Jane Street Group LLC now owns 38,799 shares of the company’s stock valued at $2,493,000 after acquiring an additional 33,734 shares during the period. Roman Butler Fullerton & Co. bought a new position in shares of United States Gasoline Fund during the fourth quarter valued at approximately $775,000. Finally, Farther Finance Advisors LLC bought a new position in shares of United States Gasoline Fund during the fourth quarter valued at approximately $500,000.

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.