United States Gasoline Fund (NYSEARCA:UGA) Shares Down 0.6% – Here’s Why

United States Gasoline Fund LP (NYSEARCA:UGA) fell 0.6% on Friday . The stock traded as low as $66.10 and last traded at $66.14. 92,995 shares were traded during mid-day trading, an increase of 171% from the average session volume of 34,327 shares. The stock had previously closed at $66.53.

United States Gasoline Fund Stock Down 0.6 %

The firm has a 50 day moving average of $62.32 and a two-hundred day moving average of $62.77.

Hedge Funds Weigh In On United States Gasoline Fund

Several hedge funds have recently bought and sold shares of the company. Rosenberg Matthew Hamilton purchased a new position in United States Gasoline Fund during the third quarter worth $48,000. Park Avenue Securities LLC purchased a new position in United States Gasoline Fund during the third quarter worth $204,000. MML Investors Services LLC increased its position in United States Gasoline Fund by 7.4% during the third quarter. MML Investors Services LLC now owns 6,566 shares of the company’s stock worth $384,000 after buying an additional 453 shares in the last quarter. National Wealth Management Group LLC purchased a new position in United States Gasoline Fund during the third quarter worth $563,000. Finally, Roman Butler Fullerton & Co. increased its position in United States Gasoline Fund by 43.9% during the third quarter. Roman Butler Fullerton & Co. now owns 9,524 shares of the company’s stock worth $589,000 after buying an additional 2,905 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.