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

United States Gasoline Fund LP (NYSEARCA:UGA)’s share price traded down 0.6% on Friday . The company traded as low as $66.10 and last traded at $66.14. 92,995 shares traded hands 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 stock has a 50 day moving average of $62.32 and a two-hundred day moving average of $62.72.

Institutional Investors Weigh In On United States Gasoline Fund

Institutional investors have recently made changes to their positions in the stock. MML Investors Services LLC lifted its position in shares of United States Gasoline Fund by 7.4% during the 3rd quarter. MML Investors Services LLC now owns 6,566 shares of the company’s stock valued at $384,000 after acquiring an additional 453 shares during the period. Park Avenue Securities LLC purchased a new position in United States Gasoline Fund in the 3rd quarter valued at approximately $204,000. Thrivent Financial for Lutherans raised its holdings in United States Gasoline Fund by 36.4% during the second quarter. Thrivent Financial for Lutherans now owns 17,734 shares of the company’s stock worth $1,199,000 after purchasing an additional 4,731 shares during the last quarter. National Wealth Management Group LLC purchased a new stake in United States Gasoline Fund during the third quarter worth $563,000. Finally, Bank of Montreal Can acquired a new stake in United States Gasoline Fund in the second quarter valued at $2,043,000.

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.