United States Gasoline Fund LP (NYSEARCA:UGA – Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 31,904 shares, a decrease of 70.0% from the July 30th total of 106,331 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily volume of 54,217 shares, the days-to-cover ratio is currently 0.6 days.
Institutional Trading of United States Gasoline Fund
A number of institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of United States Gasoline Fund by 45.4% in the 1st quarter. Royal Bank of Canada now owns 23,738 shares of the company’s stock worth $1,525,000 after buying an additional 7,415 shares during the last quarter. Jane Street Group LLC lifted its position 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 acquiring an additional 33,734 shares during the last quarter. Osaic Holdings Inc. lifted its position in United States Gasoline Fund by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,894 shares of the company’s stock valued at $114,000 after acquiring an additional 533 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 239 shares during the last quarter. Finally, Exit Wealth Advisors LLC. acquired a new stake in United States Gasoline Fund in the third quarter worth about $3,089,000.
United States Gasoline Fund Price Performance
UGA stock traded up $2.84 during trading on Friday, reaching $126.73. 15,032 shares of the company traded hands, compared to its average volume of 55,247. The business has a 50 day simple moving average of $114.54 and a 200 day simple moving average of $104.40. United States Gasoline Fund has a 12 month low of $60.40 and a 12 month high of $127.32.
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.
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