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

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) gapped up before the market opened on Friday . The stock had previously closed at $13.81, but opened at $14.35. United States Natural Gas Fund shares last traded at $14.44, with a volume of 1,856,515 shares changing hands.

United States Natural Gas Fund Price Performance

The stock has a fifty day simple moving average of $14.31 and a 200-day simple moving average of $15.48. The company has a market capitalization of $838.23 million, a price-to-earnings ratio of -11.60 and a beta of 0.17.

Institutional Trading of United States Natural Gas Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNG. Hobbs Group Advisors LLC acquired a new stake in shares of United States Natural Gas Fund during the 3rd quarter valued at about $29,000. International Assets Investment Management LLC acquired a new stake in United States Natural Gas Fund in the second quarter valued at approximately $50,000. Freedom Investment Management Inc. purchased a new stake 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 2nd quarter worth approximately $184,000. Finally, Hourglass Capital LLC purchased a new position in shares of United States Natural Gas Fund during the 3rd quarter valued at approximately $204,000.

United States Natural Gas Fund Company Profile

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.