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

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) gapped down prior to trading on Thursday . The stock had previously closed at $16.14, but opened at $15.34. United States Natural Gas Fund shares last traded at $15.18, with a volume of 1,656,362 shares trading hands.

United States Natural Gas Fund Stock Up 2.5 %

The firm’s 50-day moving average price is $14.03 and its 200 day moving average price is $14.86. The firm has a market cap of $908.56 million, a P/E ratio of -11.60 and a beta of 0.17.

Hedge Funds Weigh In On United States Natural Gas Fund

Several hedge funds and other institutional investors have recently made changes to their positions in UNG. Hobbs Group Advisors LLC acquired a new stake in United States Natural Gas Fund in the third quarter worth about $29,000. International Assets Investment Management LLC acquired a new stake in shares of United States Natural Gas Fund in the 2nd quarter worth approximately $50,000. Freedom Investment Management Inc. bought a new position in shares of United States Natural Gas Fund in the third quarter valued at approximately $164,000. J.W. Cole Advisors Inc. acquired a new position in shares of United States Natural Gas Fund during the second quarter valued at approximately $184,000. Finally, Hourglass Capital LLC acquired a new position in shares of United States Natural Gas Fund during the third quarter valued at approximately $204,000.

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.