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

United States Natural Gas Fund LP (NYSEARCA:UNG) shares gapped up prior to trading on Monday . The stock had previously closed at $16.19, but opened at $17.44. United States Natural Gas Fund shares last traded at $17.52, with a volume of 2,560,963 shares trading hands.

United States Natural Gas Fund Stock Performance

The company has a market capitalization of $984.09 million, a PE ratio of -11.60 and a beta of 0.17. The firm has a fifty day simple moving average of $16.12 and a 200-day simple moving average of $14.86.

Hedge Funds Weigh In On United States Natural Gas Fund

Hedge funds have recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new position in shares of United States Natural Gas Fund in the 3rd quarter worth about $29,000. Freedom Investment Management Inc. acquired a new position in United States Natural Gas Fund in the third quarter valued at approximately $164,000. Hourglass Capital LLC bought a new position in shares of United States Natural Gas Fund during the third quarter valued at approximately $204,000. Security National Bank bought a new position in shares of United States Natural Gas Fund during the third quarter valued at approximately $262,000. Finally, Saxon Interests Inc. bought a new stake in shares of United States Natural Gas Fund in the 3rd quarter worth approximately $264,000.

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.