United States Natural Gas Fund (NYSEARCA:UNG) Stock Price Up 4.5% – Still a Buy?

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) were up 4.5% on Wednesday . The company traded as high as $14.45 and last traded at $14.43. Approximately 1,320,885 shares changed hands during trading, a decline of 82% from the average daily volume of 7,199,115 shares. The stock had previously closed at $13.81.

United States Natural Gas Fund Stock Up 3.3 %

The firm’s 50 day simple moving average is $13.87 and its 200-day simple moving average is $15.14. The company has a market capitalization of $867.06 million, a PE ratio of -11.60 and a beta of 0.17.

Institutional Inflows and Outflows

Several hedge funds 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 in the third quarter valued at about $29,000. International Assets Investment Management LLC purchased a new position in United States Natural Gas Fund in the 2nd quarter worth approximately $50,000. Freedom Investment Management Inc. acquired a new stake in United States Natural Gas Fund in the third quarter valued at approximately $164,000. J.W. Cole Advisors Inc. purchased a new stake in shares of United States Natural Gas Fund during the second quarter valued at approximately $184,000. Finally, Hourglass Capital LLC purchased a new stake 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.