United States Gasoline Fund (NYSEARCA:UGA) Shares Down 2.7% – Here’s Why

Shares of United States Gasoline Fund LP (NYSEARCA:UGA) fell 2.7% on Monday . The company traded as low as $61.14 and last traded at $61.40. 10,391 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 34,258 shares. The stock had previously closed at $63.11.

United States Gasoline Fund Trading Down 0.8 %

The company has a fifty day moving average price of $61.65 and a two-hundred day moving average price of $63.61.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UGA. Comerica Bank purchased a new stake in shares of United States Gasoline Fund in the first quarter valued at about $44,000. Rosenberg Matthew Hamilton acquired a new position in United States Gasoline Fund in the third quarter valued at $48,000. Park Avenue Securities LLC purchased a new position in shares of United States Gasoline Fund in the 3rd quarter valued at $204,000. MML Investors Services LLC lifted its stake in shares of 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 purchasing an additional 453 shares in the last quarter. Finally, Roman Butler Fullerton & Co. lifted its position in shares of United States Gasoline Fund by 18.2% during the second quarter. Roman Butler Fullerton & Co. now owns 6,619 shares of the company’s stock worth $449,000 after purchasing an additional 1,018 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.