One of the best performing commodity related ETFs year to date despite a recent setback in price, is US Commodity Gasoline Fund LP ETF (NYSEArca: UGA), returning 13.51% YTD.

Having traded as high as $58.88 at the beginning of April, the fund has shed some gains recently, closing last Friday at $54.85 and it has spent the past 4 trading sessions below its 50 day moving average on relatively heavy trading volume.

Since we last highlighted UGA as the ETF Chart of the Day last October, the fund has risen more than 12% to current levels, and at one point several weeks ago had risen as much as 20% from our first mention, as there has been broad speculation that higher oil prices and improvements in the U.S. economic scenario will likely lead to higher gas prices heading into the summer months. [ETF Chart of the Day: Gasoline]

UGA is the only ETP that is designed to grant exposure to the Gasoline futures market, and the fund invests in the near month contract to expire of NYMEX gasoline. In circumstances where the near month contract is within a two week window of futures expiration, the fund will then invest in the next month to expire.

Average trading volume of UGA is currently approximately 114,000 shares and the fund has $128 million in live assets in it. However, the underlying futures market in gasoline futures is quite deep, and with the proper trade execution techniques and with the assistance of a seasoned ETF execution desk, larger orders can be accommodated in this fund.

US Commodity Gasoline Fund LP ETF

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