United States Natural Gas Fund (NYSEARCA:UNG) Stock Price Down 6.4% – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price fell 6.4% during trading on Wednesday . The company traded as low as $14.03 and last traded at $14.11. 2,005,562 shares were traded during trading, a decline of 72% from the average session volume of 7,196,291 shares. The stock had previously closed at $15.08.

United States Natural Gas Fund Price Performance

The company has a market cap of $796.15 million, a P/E ratio of -11.60 and a beta of 0.17. The company’s 50-day moving average is $14.33 and its two-hundred day moving average is $15.49.

Institutional Investors Weigh In On United States Natural Gas Fund

Large investors have recently bought and sold shares of the business. Quadrature Capital Ltd bought a new position in shares of United States Natural Gas Fund in the 3rd quarter worth approximately $6,751,000. Virtu Financial LLC bought a new position in United States Natural Gas Fund in the third quarter worth approximately $6,482,000. 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 last quarter. The Manufacturers Life Insurance Company bought a new stake in United States Natural Gas Fund during the second quarter valued at about $4,034,000. Finally, CreativeOne Wealth LLC purchased a new stake in United States Natural Gas Fund in the 3rd quarter worth approximately $1,106,000.

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.