United States Natural Gas Fund (NYSEARCA:UNG) Hits New 1-Year High – What’s Next?

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) reached a new 52-week high on Tuesday . The stock traded as high as $23.52 and last traded at $23.47, with a volume of 1162118 shares traded. The stock had previously closed at $21.95.

United States Natural Gas Fund Trading Up 6.5 %

The company has a market capitalization of $1.51 billion, a P/E ratio of -18.00 and a beta of 0.28. The firm’s 50 day moving average price is $18.35 and its two-hundred day moving average price is $15.68.

Institutional Investors Weigh In On United States Natural Gas Fund

A number of institutional investors and hedge funds have recently made changes to their positions in UNG. Sourcerock Group LLC bought a new position in United States Natural Gas Fund during the fourth quarter worth about $10,406,000. The Manufacturers Life Insurance Company boosted its stake in shares of United States Natural Gas Fund by 135.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock worth $8,908,000 after acquiring an additional 314,057 shares during the period. Quadrature Capital Ltd bought a new position in shares of United States Natural Gas Fund during the 3rd quarter worth approximately $6,751,000. Virtu Financial LLC acquired a new position in shares of United States Natural Gas Fund in the third quarter valued at $6,482,000. Finally, Wells Fargo & Company MN grew its stake in United States Natural Gas Fund by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 349,559 shares of the exchange traded fund’s stock valued at $5,876,000 after buying an additional 2,644 shares during 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.