United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Up – Still a Buy?

United States Natural Gas Fund LP (NYSEARCA:UNG) shares gapped up prior to trading on Monday . The stock had previously closed at $12.53, but opened at $13.68. United States Natural Gas Fund shares last traded at $13.83, with a volume of 3,976,967 shares traded.

United States Natural Gas Fund Stock Performance

The company’s 50-day moving average is $14.34 and its 200-day moving average is $15.60. The firm has a market cap of $787.50 million, a price-to-earnings ratio of -11.60 and a beta of 0.17.

Institutional Trading of United States Natural Gas Fund

A number of large investors have recently bought and sold shares of UNG. The Manufacturers Life Insurance Company acquired a new stake in United States Natural Gas Fund during the 2nd quarter valued at $4,034,000. Shah Capital Management bought a new position in shares of United States Natural Gas Fund in the first quarter worth about $3,124,000. Cetera Investment Advisers boosted its position in United States Natural Gas Fund by 13.5% in the second quarter. Cetera Investment Advisers now owns 117,826 shares of the exchange traded fund’s stock valued at $2,054,000 after buying an additional 14,052 shares in the last quarter. Daiwa Securities Group Inc. raised its position in United States Natural Gas Fund by 17.7% in the third quarter. Daiwa Securities Group Inc. now owns 88,893 shares of the exchange traded fund’s stock valued at $1,452,000 after purchasing an additional 13,400 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in United States Natural Gas Fund in the first quarter valued at $861,000.

United States Natural Gas Fund Company Profile

United States Natural Gas Fund, LP is a limited partnership. The Company is a commodity pool that issues limited partnership interests (shares) traded on the NYSE Arca, Inc (the NYSE Arca). The investment objective of the Company is for the daily changes in percentage terms of its shares’ per share net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of natural gas delivered at the Henry Hub, Louisiana, as measured by the daily changes in the price of the futures contracts on natural gas traded on the New York Mercantile Exchange (the NYMEX) that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire (the Benchmark Futures Contract), less its expenses.