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

United States Natural Gas Fund LP (NYSEARCA:UNG) gapped down before the market opened on Thursday . The stock had previously closed at $14.11, but opened at $13.79. United States Natural Gas Fund shares last traded at $13.88, with a volume of 532,389 shares.

United States Natural Gas Fund Stock Performance

The stock’s 50-day simple moving average is $14.36 and its 200 day simple moving average is $15.59. The company has a market capitalization of $775.97 million, a PE ratio of -11.60 and a beta of 0.17.

Hedge Funds Weigh In On United States Natural Gas Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in UNG. International Assets Investment Management LLC grew its holdings in United States Natural Gas Fund by 1,506.8% during the third quarter. International Assets Investment Management LLC now owns 46,116 shares of the exchange traded fund’s stock worth $753,000 after acquiring an additional 43,246 shares during the period. Avantax Advisory Services Inc. acquired a new position in United States Natural Gas Fund during the first quarter worth $235,000. Cetera Investment Advisers grew its holdings in United States Natural Gas Fund by 13.5% in the second quarter. Cetera Investment Advisers now owns 117,826 shares of the exchange traded fund’s stock valued at $2,054,000 after purchasing an additional 14,052 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in United States Natural Gas Fund by 17.2% in the third quarter. Daymark Wealth Partners LLC now owns 19,250 shares of the exchange traded fund’s stock valued at $314,000 after purchasing an additional 2,825 shares during the last quarter. Finally, Sweet Financial Partners LLC grew its holdings in United States Natural Gas Fund by 18.7% in the third quarter. Sweet Financial Partners LLC now owns 21,125 shares of the exchange traded fund’s stock valued at $345,000 after purchasing an additional 3,325 shares during the last quarter.

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.