Envestnet Asset Management Inc. bought a new position in United States Gasoline Fund LP (NYSEARCA:UGA – Get Rating) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 27,312 shares of the company’s stock, valued at approximately $1,852,000.
Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of United States Gasoline Fund by 125.4% in the 1st quarter. JPMorgan Chase & Co. now owns 629 shares of the company’s stock worth $35,000 after purchasing an additional 350 shares in the last quarter. Birch Capital Management LLC purchased a new position in shares of United States Gasoline Fund in the 2nd quarter worth $55,000. Centaurus Financial Inc. purchased a new position in shares of United States Gasoline Fund in the 2nd quarter worth $205,000. Stratos Wealth Partners LTD. purchased a new position in shares of United States Gasoline Fund in the 2nd quarter worth $266,000. Finally, Cetera Advisors LLC purchased a new position in shares of United States Gasoline Fund in the 1st quarter worth $454,000.
United States Gasoline Fund Stock Performance
UGA stock opened at $56.94 on Friday. United States Gasoline Fund LP has a 1 year low of $35.05 and a 1 year high of $80.29. The stock’s fifty day moving average price is $57.96 and its 200-day moving average price is $62.59.
About United States Gasoline Fund
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.
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