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 Friday . The stock had previously closed at $15.04, but opened at $14.57. United States Natural Gas Fund shares last traded at $14.51, with a volume of 761,903 shares.

United States Natural Gas Fund Trading Down 5.4 %

The stock has a market cap of $820.36 million, a price-to-earnings ratio of -11.60 and a beta of 0.17. The stock’s 50-day moving average is $13.83 and its 200-day moving average is $15.07.

Institutional Trading of United States Natural Gas Fund

Several institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new position in shares of United States Natural Gas Fund in the third quarter worth $6,751,000. Virtu Financial LLC acquired a new stake in United States Natural Gas Fund in the third quarter worth approximately $6,482,000. The Manufacturers Life Insurance Company boosted its stake in United States Natural Gas Fund by 135.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock valued at $8,908,000 after purchasing an additional 314,057 shares in the last quarter. CreativeOne Wealth LLC bought a new position in United States Natural Gas Fund during the 3rd quarter valued at $1,106,000. Finally, MML Investors Services LLC acquired a new position in shares of United States Natural Gas Fund during the 3rd quarter valued at $712,000.

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.