The United States Gasoline Fund, LP (UGA) outperformed all other non-leveraged, non-inverse exchange traded products in the U.S. today on a percentage basis, producing a +4.37% one-day return and outperforming the wider markets by a total of 4.24 percentage points.

Behind The Gains

UGA closed today at $28.67 per share, up $1.20 (+4.37%). Putting this move in context, the S&P 500 index — largely considered the most popular and useful benchmark for equity performance — closed up $0.30 (+0.13%) on the day.

UGA’s trading volume today was a total of 63,952 shares, which was an increase of 49% versus its average daily trading volume of 43,037. Rising trading volume generally an indicator of increased demand for a particular security, and is typically associated with a specific news event or trend that draws investors into or out of specific asset classes, or sectors or subsectors within those classes.

Including any dividends as well as today’s gains, UGA has still fallen a total of -8.46% year-to-date, versus a +2.55% gain in the S&P 500 during the same timeframe.

A Look Under The Hood

United States Gasoline Fund, LP is a Commodity-focused product issued by U.S. Commodity Funds. Its expense ratio of 0.60% makes it the #24 cheapest ETF among 120 total funds in the Commodity ETFs category.

UGA currently boasts $70.58M in assets under management (AUM), placing it #43 of 120 ETFs in its category, and #978 of 1916 total ETFs in the U.S. exchange traded universe.

The investment objective of the US Commodity Gasoline Fund LP ETF is to track the daily changes in percentage terms of the spot price of gasoline, for delivery to the New York harbor, as measured by the daily changes in the price of a specified short-term futures contract on gasoline called the “Benchmark Futures Contract”.

With gas prices jumping on Wednesday, it’s no surprise that UGA followed suit.

UGA SMART Grade

UGA currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #83 of 121 funds in the Commodity ETFs category.

For more information about this ETF, including full ratings, news, data, and more, please visit UGA’s ticker page.

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