The United States Gasoline Fund, LP (UGA) reported its financial results for the three months ending March 31, 2025, revealing a net income of $2.07 million, a significant decrease from $15.92 million in the same period last year. Total income for the quarter was $2.31 million, down from $16.13 million, primarily due to a realized loss of $167,803 on closed commodity futures contracts, compared to a realized gain of $12.05 million in the prior year. The fund's net asset value (NAV) per share increased to $64.28 from $62.94 at the end of the previous quarter, reflecting a 2.13% increase.
UGA's total assets decreased to $90.21 million as of March 31, 2025, from $100.98 million at the end of 2024. This decline was attributed to a reduction in cash and cash equivalents, which fell to $65.09 million from $75.86 million. The number of limited partner shares outstanding also decreased to 1.4 million from 1.6 million, indicating a reduction in investor participation. The fund's total liabilities decreased to $220,884 from $269,004, primarily due to lower professional fees payable.
In terms of operational metrics, UGA held 935 open commodity futures contracts for gasoline, with an unrealized gain of $4.27 million on these contracts, up from $2.76 million at the end of 2024. The fund's average daily total net assets were reported at $94.72 million, a slight decrease from $99.27 million in the previous year. The management fee for the quarter was $140,135, down from $147,987, while total expenses increased to $239,949 from $211,766, largely due to higher professional fees.
Looking ahead, UGA's management anticipates that market conditions, including ongoing geopolitical tensions and fluctuations in crude oil prices, will continue to impact gasoline prices and, consequently, the fund's performance. The fund aims to maintain its investment objective of closely tracking the daily changes in the price of gasoline futures contracts. However, the management acknowledges potential challenges, including the effects of contango and backwardation in the futures market, which could affect the fund's ability to achieve its investment goals.
About United States Gasoline Fund, LP
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.