United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down – Here’s Why

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 trading hands.

United States Natural Gas Fund Trading Down 5.4 %

The company’s fifty day moving average is $13.83 and its 200-day moving average is $15.07. The firm has a market capitalization of $820.36 million, a P/E ratio of -11.60 and a beta of 0.17.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its stake in United States Natural Gas Fund by 135.7% during the third quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock worth $8,908,000 after acquiring an additional 314,057 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of United States Natural Gas Fund in the 3rd quarter valued at $6,751,000. Virtu Financial LLC bought a new stake in shares of United States Natural Gas Fund in the 3rd quarter worth about $6,482,000. Cetera Investment Advisers increased its position in shares of United States Natural Gas Fund by 13.5% during the 2nd quarter. Cetera Investment Advisers now owns 117,826 shares of the exchange traded fund’s stock worth $2,054,000 after purchasing an additional 14,052 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in United States Natural Gas Fund by 17.7% during the 3rd 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.

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.