United States Gasoline Fund (NYSEARCA:UGA) Stock Price Down 2.7% – Time to Sell?

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

United States Gasoline Fund Stock Performance

The stock has a 50-day simple moving average of $61.59 and a 200-day simple moving average of $63.67.

Institutional Trading of United States Gasoline Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. MML Investors Services LLC raised 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 worth $384,000 after purchasing an additional 453 shares during the period. National Wealth Management Group LLC acquired a new stake in shares of United States Gasoline Fund during the 3rd quarter worth approximately $563,000. Thrivent Financial for Lutherans raised its position in shares of United States Gasoline Fund by 5.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 18,770 shares of the company’s stock worth $1,097,000 after purchasing an additional 1,036 shares during the period. Roman Butler Fullerton & Co. raised its position in shares of United States Gasoline Fund by 43.9% during the 3rd quarter. Roman Butler Fullerton & Co. now owns 9,524 shares of the company’s stock worth $589,000 after purchasing an additional 2,905 shares during the period. Finally, Rosenberg Matthew Hamilton acquired a new stake in shares of United States Gasoline Fund during the 3rd quarter worth approximately $48,000.

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.