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

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $22.09, but opened at $21.04. United States Natural Gas Fund shares last traded at $21.01, with a volume of 1,805,040 shares trading hands.

United States Natural Gas Fund Price Performance

The stock has a 50-day moving average price of $17.90 and a 200-day moving average price of $15.50. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of -18.00 and a beta of 0.28.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Hobbs Group Advisors LLC bought a new position in shares of United States Natural Gas Fund in the 3rd quarter valued at $29,000. Mountain Hill Investment Partners Corp. bought a new position in United States Natural Gas Fund in the fourth quarter valued at about $32,000. Transce3nd LLC acquired a new position in United States Natural Gas Fund during the fourth quarter worth about $137,000. Freedom Investment Management Inc. bought a new position in shares of United States Natural Gas Fund in the third quarter worth about $164,000. Finally, Northern Trust Corp increased its position in United States Natural Gas Fund by 5.5% during the 4th quarter. Northern Trust Corp now owns 11,077 shares of the exchange traded fund’s stock worth $186,000 after purchasing an additional 577 shares in the last quarter.

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.