United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down – Time to Sell?

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $17.01, but opened at $16.18. United States Natural Gas Fund shares last traded at $16.20, with a volume of 1,865,683 shares.

United States Natural Gas Fund Trading Down 7.7 %

The firm has a fifty day moving average of $14.31 and a two-hundred day moving average of $14.76. The company has a market cap of $905.11 million, a PE ratio of -11.60 and a beta of 0.17.

Institutional Investors Weigh In On United States Natural Gas Fund

Several hedge funds have recently added to or reduced their stakes in UNG. Quadrature Capital Ltd purchased a new position in 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 during the 3rd quarter valued at approximately $6,482,000. The Manufacturers Life Insurance Company raised its holdings in shares of United States Natural Gas Fund by 135.7% during the third quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock valued at $8,908,000 after acquiring an additional 314,057 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in United States Natural Gas Fund in the third quarter worth $1,106,000. Finally, MML Investors Services LLC bought a new stake in United States Natural Gas Fund in the third quarter valued at $712,000.

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.