United States Gasoline Fund (UGA) Hits a 52-Week High
The United States Gasoline Fund UGA is probably a suitable pick for investors looking for momentum. UGA hit a 52-week high and is up 111.2% from its 52-week low price of $32.18/share.
Let’s look at UGA and its near-term outlook to gauge the direction it might be headed toward.
UGA in Focus
The United States Gasoline Fund is an exchange-traded security, designed to track in percentage terms, the movements of gasoline prices. UGA has an AUM of $115 million and charges an expense ratio of 90 basis points.
Why the Move?
The surge in gasoline prices is largely led by the conflict between Russia and Ukraine that sparked fears of a global supply disruption in an already tight-supply market. Sanctions by the United States and other countries will force Russia to supply less crude oil, thereby flaring up prices. This is making funds like UGA an impressive investment option.
More Gains Ahead?
It seems like the United States Gasoline Fund will remain strong, with a positive weighted alpha of 110.60, which gives cues of a further rally.
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United States Gasoline ETF (UGA): ETF Research Reports
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