United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Up to $6.88

United States Natural Gas Fund LP (NYSEARCA:UNG – Get Rating) shares gapped up before the market opened on Wednesday . The stock had previously closed at $6.88, but opened at $7.02. United States Natural Gas Fund shares last traded at $7.03, with a volume of 4,145,565 shares.

United States Natural Gas Fund Trading Down 4.2 %

The firm’s 50 day simple moving average is $6.88 and its 200-day simple moving average is $11.32.

Institutional Trading of United States Natural Gas Fund

Several institutional investors and hedge funds have recently bought and sold shares of UNG. Shah Capital Management purchased a new stake in shares of United States Natural Gas Fund during the first quarter worth approximately $9,750,000. BNP Paribas Arbitrage SNC increased its stake in shares of United States Natural Gas Fund by 2,532.1% during the first quarter. BNP Paribas Arbitrage SNC now owns 1,053,436 shares of the exchange traded fund’s stock worth $7,311,000 after buying an additional 1,013,413 shares during the period. Ardsley Advisory Partners LP purchased a new stake in shares of United States Natural Gas Fund during the first quarter worth approximately $6,237,000. Wells Fargo & Company MN increased its stake in shares of United States Natural Gas Fund by 586.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,035,248 shares of the exchange traded fund’s stock worth $14,597,000 after buying an additional 884,538 shares during the period. Finally, Virtu Financial LLC purchased a new stake in shares of United States Natural Gas Fund during the first quarter worth approximately $11,345,000.

About United States Natural Gas Fund

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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.