United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down – Should You Sell?

United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price gapped down before the market opened on Friday . The stock had previously closed at $17.01, but opened at $16.18. United States Natural Gas Fund shares last traded at $16.20, with a volume of 1,865,683 shares changing hands.

United States Natural Gas Fund Trading Down 8.3 %

The stock has a market cap of $898.76 million, a PE ratio of -11.60 and a beta of 0.17. The business has a fifty day simple moving average of $14.33 and a two-hundred day simple moving average of $14.70.

Institutional Trading of United States Natural Gas Fund

A number of hedge funds have recently modified their holdings of UNG. Hobbs Group Advisors LLC bought a new stake in shares of United States Natural Gas Fund in the 3rd quarter worth approximately $29,000. Freedom Investment Management Inc. bought a new stake in United States Natural Gas Fund in the third quarter worth $164,000. J.W. Cole Advisors Inc. purchased a new stake in shares of United States Natural Gas Fund in the second quarter worth $184,000. Hourglass Capital LLC bought a new position in shares of United States Natural Gas Fund during the third quarter valued at $204,000. Finally, Security National Bank purchased a new position in shares of United States Natural Gas Fund in the 3rd quarter worth about $262,000.

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.