United States Natural Gas Fund (NYSEARCA:UNG) Trading Down 3.2% – Here’s Why

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) traded down 3.2% on Tuesday . The company traded as low as $16.59 and last traded at $16.61. 2,707,830 shares changed hands during trading, a decline of 78% from the average session volume of 12,421,785 shares. The stock had previously closed at $17.16.

United States Natural Gas Fund Stock Up 7.0 %

The firm’s 50 day simple moving average is $14.54 and its 200-day simple moving average is $14.65. The company has a market capitalization of $986.39 million, a PE ratio of -11.60 and a beta of 0.17.

Institutional Investors Weigh In On United States Natural Gas Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hobbs Group Advisors LLC purchased a new stake in shares of United States Natural Gas Fund during the third quarter worth about $29,000. Freedom Investment Management Inc. purchased a new stake in United States Natural Gas Fund during the 3rd quarter worth approximately $164,000. J.W. Cole Advisors Inc. acquired a new position in shares of United States Natural Gas Fund in the 2nd quarter valued at approximately $184,000. Hourglass Capital LLC purchased a new position in shares of United States Natural Gas Fund during the 3rd quarter valued at approximately $204,000. Finally, Security National Bank bought a new position in United States Natural Gas Fund during the 3rd quarter valued at $262,000.

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.