United States Gasoline Fund LP (NYSEARCA:UGA) Sees Large Increase in Short Interest

United States Gasoline Fund LP (NYSEARCA:UGA) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 47,778 shares, a growth of 81.6% from the April 15th total of 26,304 shares. Based on an average trading volume of 63,896 shares, the short-interest ratio is currently 0.7 days. Currently, 4.2% of the company’s shares are sold short.

Hedge Funds Weigh In On United States Gasoline Fund

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of United States Gasoline Fund by 96.8% during the first quarter. EverSource Wealth Advisors LLC now owns 5,079 shares of the company’s stock worth $525,000 after purchasing an additional 2,498 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of 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 buying an additional 374 shares during the last quarter. Three Seasons Wealth LLC purchased a new stake in shares of United States Gasoline Fund during the first quarter valued at $423,000. Ascentis Independent Advisors purchased a new stake in shares of United States Gasoline Fund during the first quarter valued at $31,000. Finally, Private Advisor Group LLC purchased a new stake in shares of United States Gasoline Fund during the first quarter valued at $489,000.

United States Gasoline Fund Price Performance

Shares of NYSEARCA:UGA opened at $122.82 on Tuesday. United States Gasoline Fund has a 52 week low of $57.63 and a 52 week high of $125.47. The firm has a 50 day moving average of $104.91 and a 200 day moving average of $80.16.

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.