United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down – What’s Next?

United States Natural Gas Fund LP (NYSEARCA:UNG) gapped down prior to trading on Friday . The stock had previously closed at $18.25, but opened at $17.85. United States Natural Gas Fund shares last traded at $17.68, with a volume of 614,235 shares.

United States Natural Gas Fund Stock Down 2.5 %

The stock has a market capitalization of $1.03 billion, a P/E ratio of -11.60 and a beta of 0.17. The firm has a fifty day moving average price of $15.72 and a two-hundred day moving average price of $14.75.

Institutional Investors Weigh In On United States Natural Gas Fund

Several institutional investors and hedge funds have recently made changes to their positions in the company. Insigneo Advisory Services LLC purchased a new position in United States Natural Gas Fund in the 2nd quarter worth about $417,000. The Manufacturers Life Insurance Company bought a new position in United States Natural Gas Fund during the second quarter valued at approximately $4,034,000. Creative Planning purchased a new stake in United States Natural Gas Fund in the second quarter worth approximately $379,000. Cetera Investment Advisers grew its position in United States Natural Gas Fund by 13.5% in the 2nd quarter. Cetera Investment Advisers now owns 117,826 shares of the exchange traded fund’s stock worth $2,054,000 after purchasing an additional 14,052 shares during the period. Finally, Security National Bank purchased a new stake in United States Natural Gas Fund during the 3rd quarter valued at $262,000.

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.