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UGA

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1d
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Analysis and statistics

  • Open
    532.4621$
  • Previous Close
    532.4621$
  • 52 Week Change
    --
  • Day Range
    0.00$
  • 52 Week High/Low
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  • Dividend Per Share
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  • Market cap
    --$
  • EPS
    --
  • Beta
    --
  • Volume
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About

UGA.MX represents the iPath Series B Bloomberg Grains Subindex Total Return ETN, an exchange-traded note that tracks the Bloomberg Grains Subindex Total Return. This subindex reflects the potential returns available through an unleveraged investment in futures contracts on a basket of grains commodities, specifically corn, soybeans, and wheat. The ETN does not directly hold the underlying commodities; instead, it is a debt obligation of the issuing bank, Barclays Bank PLC, promising to pay at maturity the amount reflected by the subindex, less applicable fees. Investors use UGA.MX to gain exposure to the grains market without directly purchasing or storing physical commodities or managing futures contracts themselves.

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Factors

Crude Oil Prices: UGA.MX aims to track the daily changes in the price of WTI crude oil. Therefore, fluctuations in crude oil prices directly impact UGA.MX.

Supply and Demand: Global oil supply and demand dynamics influence crude oil prices. Production levels, geopolitical events, and economic growth all play a role.

Inventory Levels: Crude oil inventory levels reported by government agencies and industry groups can affect price sentiment and, consequently, UGA.MX's value.

Currency Exchange Rates: As crude oil is often priced in US dollars, changes in the USD/MXN exchange rate can influence the price of UGA.MX.

Interest Rates: Higher interest rates can increase borrowing costs for oil producers, potentially affecting supply and prices, which then affect UGA.MX.

Geopolitical Risks: Political instability, conflicts, or tensions in oil-producing regions can disrupt supply and lead to price spikes, impacting UGA.MX.

Economic Indicators: Strong economic growth typically increases demand for oil, driving up prices and boosting UGA.MX. Conversely, economic slowdowns can decrease demand.

Weather Conditions: Extreme weather events, such as hurricanes in the Gulf of Mexico, can disrupt oil production and refining, leading to price increases in UGA.MX.

Speculation and Investor Sentiment: Trading activity and investor expectations about future oil prices can significantly affect UGA.MX's price movements.

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