Shares of United States Natural Gas Fund LP (NYSEARCA:UNG – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $18.25, but opened at $17.85. United States Natural Gas Fund shares last traded at $17.68, with a volume of 614,235 shares changing hands.
United States Natural Gas Fund Price Performance
The stock has a fifty day simple moving average of $15.81 and a 200-day simple moving average of $14.76. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -11.60 and a beta of 0.17.
Institutional Investors Weigh In On United States Natural Gas Fund
Several hedge funds have recently modified their holdings of the company. Hobbs Group Advisors LLC purchased a new stake in United States Natural Gas Fund in the 3rd quarter worth $29,000. Freedom Investment Management Inc. purchased a new stake in shares of United States Natural Gas Fund during the third quarter worth about $164,000. Hourglass Capital LLC acquired a new position in shares of United States Natural Gas Fund during the 3rd quarter worth about $204,000. Security National Bank purchased a new position in United States Natural Gas Fund in the 3rd quarter valued at about $262,000. Finally, Saxon Interests Inc. acquired a new stake in United States Natural Gas Fund in the 3rd quarter worth about $264,000.
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.
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