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

United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $23.19, but opened at $23.87. United States Natural Gas Fund shares last traded at $23.73, with a volume of 1,368,039 shares changing hands.

United States Natural Gas Fund Stock Performance

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 fifty day moving average is $19.18 and its 200-day moving average is $16.06.

Institutional Investors Weigh In On United States Natural Gas Fund

Several hedge funds have recently added to or reduced their stakes in the business. Sourcerock Group LLC acquired a new position in shares of United States Natural Gas Fund during the 4th quarter valued at $10,406,000. Southport Management L.L.C. boosted its holdings in shares of United States Natural Gas Fund by 9.1% in the 4th quarter. Southport Management L.L.C. now owns 60,000 shares of the exchange traded fund’s stock worth $1,009,000 after buying an additional 5,000 shares during the last quarter. Man Group plc boosted its holdings in shares of United States Natural Gas Fund by 41.0% in the 4th quarter. Man Group plc now owns 92,357 shares of the exchange traded fund’s stock worth $1,553,000 after buying an additional 26,852 shares during the last quarter. Bank of America Corp DE lifted its holdings in United States Natural Gas Fund by 37,448.0% during the fourth quarter. Bank of America Corp DE now owns 244,062 shares of the exchange traded fund’s stock valued at $4,103,000 after purchasing an additional 243,412 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in United States Natural Gas Fund by 5.8% during the fourth quarter. BNP Paribas Financial Markets now owns 30,167 shares of the exchange traded fund’s stock valued at $507,000 after purchasing an additional 1,647 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.