United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down – What’s Next?

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) gapped down before the market opened on Thursday . The stock had previously closed at $14.11, but opened at $13.79. United States Natural Gas Fund shares last traded at $13.88, with a volume of 532,389 shares trading hands.

United States Natural Gas Fund Price Performance

The stock has a market cap of $770.78 million, a price-to-earnings ratio of -11.60 and a beta of 0.17. The company’s fifty day simple moving average is $14.32 and its two-hundred day simple moving average is $15.56.

Institutional Trading of United States Natural Gas Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UNG. MML Investors Services LLC purchased a new position in United States Natural Gas Fund during the 3rd quarter worth $712,000. Quadrature Capital Ltd bought a new position in shares of United States Natural Gas Fund in the third quarter valued at approximately $6,751,000. IHT Wealth Management LLC increased its position in shares of United States Natural Gas Fund by 207.9% during the third quarter. IHT Wealth Management LLC now owns 31,025 shares of the exchange traded fund’s stock valued at $507,000 after acquiring an additional 20,949 shares during the last quarter. Captrust Financial Advisors lifted its holdings in United States Natural Gas Fund by 104.8% during the third quarter. Captrust Financial Advisors now owns 28,042 shares of the exchange traded fund’s stock worth $458,000 after acquiring an additional 14,351 shares during the period. Finally, CreativeOne Wealth LLC purchased a new position in United States Natural Gas Fund in the third quarter worth $1,106,000.

About United States Natural Gas Fund

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.