United States Gasoline Fund LP (NYSEARCA:UGA) traded up 10.5% during mid-day trading on Monday . The stock traded as high as $32.59 and last traded at $31.51, 103,565 shares were traded during mid-day trading. An increase of 245% from the average session volume of 30,018 shares. The stock had previously closed at $28.51.
The company’s 50-day moving average price is $28.62 and its two-hundred day moving average price is $29.89.
A hedge fund recently raised its stake in United States Gasoline Fund stock. Pettinga Financial Advisors LLC lifted its stake in shares of United States Gasoline Fund LP (NYSEARCA:UGA) by 26.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,665 shares of the company’s stock after buying an additional 2,865 shares during the quarter. Pettinga Financial Advisors LLC owned approximately 1.19% of United States Gasoline Fund worth $422,000 at the end of the most recent reporting period.
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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