United States Natural Gas Fund (NYSEARCA:UNG) Stock Price Down 4.4% – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG) shares dropped 4.4% on Tuesday . The stock traded as low as $17.12 and last traded at $17.24. Approximately 2,622,824 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 7,367,611 shares. The stock had previously closed at $18.03.

United States Natural Gas Fund Price Performance

The company has a market capitalization of $969.10 million, a P/E ratio of -11.60 and a beta of 0.17. The business’s 50-day moving average price is $14.26 and its two-hundred day moving average price is $14.75.

Institutional Investors Weigh In On United States Natural Gas Fund

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC bought a new position in United States Natural Gas Fund during the 2nd quarter worth about $50,000. J.W. Cole Advisors Inc. bought a new position in shares of United States Natural Gas Fund during the 2nd quarter worth approximately $184,000. Insigneo Advisory Services LLC acquired a new stake in shares of United States Natural Gas Fund in the second quarter valued at approximately $417,000. The Manufacturers Life Insurance Company bought a new stake in shares of United States Natural Gas Fund in the second quarter worth $4,034,000. Finally, Creative Planning acquired a new position in United States Natural Gas Fund during the second quarter worth $379,000.

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.