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

United States Natural Gas Fund LP (NYSEARCA:UNG) shares gapped down prior to trading on Tuesday . The stock had previously closed at $17.64, but opened at $16.73. United States Natural Gas Fund shares last traded at $16.93, with a volume of 955,547 shares traded.

United States Natural Gas Fund Stock Performance

The firm has a market capitalization of $1.01 billion, a P/E ratio of -11.60 and a beta of 0.17. The stock has a 50-day moving average of $16.08 and a 200 day moving average of $14.84.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Hobbs Group Advisors LLC acquired a new stake in shares of United States Natural Gas Fund in the 3rd quarter valued at about $29,000. Freedom Investment Management Inc. acquired a new position in shares of United States Natural Gas Fund in the third quarter valued at $164,000. Hourglass Capital LLC bought a new position in United States Natural Gas Fund in the 3rd quarter valued at about $204,000. SG Americas Securities LLC acquired a new stake in shares of United States Natural Gas Fund during the fourth quarter worth $267,000. Finally, Security National Bank bought a new stake in United States Natural Gas Fund in the 3rd quarter valued at about $262,000.

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.