United States Gasoline Fund (NYSEARCA:UGA) Trading Up 2.7% – Still a Buy?

United States Gasoline Fund LP (NYSEARCA:UGA) rose 2.7% during trading on Thursday . The stock traded as high as $68.07 and last traded at $67.85. Approximately 50,266 shares traded hands during trading, an increase of 74% from the average daily volume of 28,961 shares. The stock had previously closed at $66.07.

United States Gasoline Fund Stock Down 0.6%

The stock’s fifty day moving average price is $64.18 and its 200-day moving average price is $62.45.

Hedge Funds Weigh In On United States Gasoline Fund

Large investors have recently bought and sold shares of the business. Jane Street Group LLC lifted its position in United States Gasoline Fund by 666.0% in the 1st 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 last quarter. Tactive Advisors LLC acquired a new position in shares of United States Gasoline Fund during the second quarter valued at approximately $1,968,000. Blue Capital Inc. bought a new position in United States Gasoline Fund during the second quarter valued at about $1,476,000. Farther Finance Advisors LLC bought a new stake in shares of United States Gasoline Fund in the 2nd quarter worth approximately $1,024,000. Finally, LPL Financial LLC boosted its holdings in United States Gasoline Fund by 223.3% during the first quarter. LPL Financial LLC now owns 20,998 shares of the company’s stock worth $1,349,000 after buying an additional 14,503 shares in the last quarter.

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.