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

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $13.87, but opened at $14.35. United States Natural Gas Fund shares last traded at $14.30, with a volume of 2,080,016 shares trading hands.

United States Natural Gas Fund Stock Up 5.4 %

The company has a market cap of $842.84 million, a price-to-earnings ratio of -11.60 and a beta of 0.17. The business has a fifty day simple moving average of $14.32 and a 200 day simple moving average of $15.56.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Hobbs Group Advisors LLC acquired a new stake in shares of United States Natural Gas Fund during the 3rd quarter worth about $29,000. MML Investors Services LLC acquired a new position in United States Natural Gas Fund in the 3rd quarter valued at $712,000. Quadrature Capital Ltd purchased a new position in shares of United States Natural Gas Fund during the 3rd quarter worth $6,751,000. IHT Wealth Management LLC lifted its stake in shares of United States Natural Gas Fund by 207.9% during the 3rd quarter. IHT Wealth Management LLC now owns 31,025 shares of the exchange traded fund’s stock worth $507,000 after purchasing an additional 20,949 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of United States Natural Gas Fund by 104.8% in the third quarter. Captrust Financial Advisors now owns 28,042 shares of the exchange traded fund’s stock valued at $458,000 after purchasing an additional 14,351 shares during the period.

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.