Short Interest in United States Gasoline Fund LP (NYSEARCA:UGA) Grows By 61.9%

United States Gasoline Fund LP (NYSEARCA:UGA) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 106,331 shares, a growth of 61.9% from the July 15th total of 65,676 shares. Based on an average daily trading volume, of 49,381 shares, the days-to-cover ratio is currently 2.2 days. Approximately 9.7% of the company’s stock are short sold.

United States Gasoline Fund Trading Up 3.2%

Shares of United States Gasoline Fund stock traded up $3.89 during trading hours on Monday, reaching $123.60. 30,437 shares of the company’s stock were exchanged, compared to its average volume of 57,295. The company has a 50 day moving average of $110.85 and a two-hundred day moving average of $101.13. United States Gasoline Fund has a fifty-two week low of $60.40 and a fifty-two week high of $126.75.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Ascentis Independent Advisors acquired a new position in shares of United States Gasoline Fund during the 1st quarter worth approximately $31,000. Steward Partners Investment Advisory LLC bought a new position in shares of United States Gasoline Fund in the fourth quarter valued at $30,000. JPMorgan Chase & Co. grew its stake in shares of United States Gasoline Fund by 73.1% in the third quarter. JPMorgan Chase & Co. now owns 566 shares of the company’s stock valued at $36,000 after buying an additional 239 shares in the last quarter. Motiv8 Investments LLC acquired a new position in United States Gasoline Fund during the fourth quarter worth $44,000. Finally, Osaic Holdings Inc. raised its position in United States Gasoline Fund by 39.2% during the second quarter. Osaic Holdings Inc. now owns 1,894 shares of the company’s stock worth $114,000 after acquiring an additional 533 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.