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

United States Natural Gas Fund LP (NYSEARCA:UNG) gapped up prior to trading on Monday . The stock had previously closed at $15.59, but opened at $17.01. United States Natural Gas Fund shares last traded at $16.88, with a volume of 3,294,036 shares changing hands.

United States Natural Gas Fund Trading Down 6.8 %

The company’s 50-day moving average price is $14.46 and its two-hundred day moving average price is $14.63. The company has a market cap of $921.82 million, a P/E ratio of -11.60 and a beta of 0.17.

Institutional Trading of United States Natural Gas Fund

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in United States Natural Gas Fund during the third quarter valued at about $6,482,000. Hobbs Group Advisors LLC acquired a new stake in shares of United States Natural Gas Fund during the third quarter valued at approximately $29,000. MML Investors Services LLC purchased a new stake in shares of United States Natural Gas Fund in the 3rd quarter valued at approximately $712,000. Quadrature Capital Ltd acquired a new position in United States Natural Gas Fund in the 3rd quarter worth approximately $6,751,000. Finally, IHT Wealth Management LLC grew its position in United States Natural Gas Fund by 207.9% during the 3rd quarter. IHT Wealth Management LLC now owns 31,025 shares of the exchange traded fund’s stock worth $507,000 after purchasing an additional 20,949 shares in the last quarter.

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.