United States Natural Gas Fund (NYSEARCA:UNG) Trading Up 7.3% – Here’s Why

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) traded up 7.3% during mid-day trading on Tuesday . The company traded as high as $20.94 and last traded at $21.08. 6,356,878 shares were traded during mid-day trading, a decline of 33% from the average session volume of 9,523,531 shares. The stock had previously closed at $19.65.

United States Natural Gas Fund Trading Down 3.9 %

The business has a 50 day moving average of $17.45 and a 200-day moving average of $15.30. The stock has a market cap of $1.25 billion, a PE ratio of -11.60 and a beta of 0.17.

Institutional Investors Weigh In On United States Natural Gas Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sourcerock Group LLC purchased a new position in shares of United States Natural Gas Fund during the 4th quarter worth $10,406,000. Quadrature Capital Ltd purchased a new position in shares of United States Natural Gas Fund during the 3rd quarter worth $6,751,000. Virtu Financial LLC purchased a new position in shares of United States Natural Gas Fund during the 3rd quarter worth $6,482,000. The Manufacturers Life Insurance Company lifted 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 purchasing an additional 314,057 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of United States Natural Gas Fund by 37,448.0% during the 4th quarter. Bank of America Corp DE now owns 244,062 shares of the exchange traded fund’s stock worth $4,103,000 after purchasing an additional 243,412 shares during the period.

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.