United States Natural Gas Fund (NYSEARCA:UNG) Reaches New 52-Week High – Time to Buy?

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) reached a new 52-week high on Tuesday . The stock traded as high as $23.52 and last traded at $23.47, with a volume of 1162118 shares traded. The stock had previously closed at $21.95.

United States Natural Gas Fund Stock Up 6.5 %

The stock has a fifty day moving average price of $18.35 and a two-hundred day moving average price of $15.68. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -18.00 and a beta of 0.28.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sourcerock Group LLC acquired a new stake in shares of United States Natural Gas Fund during the 4th quarter worth $10,406,000. Southport Management L.L.C. grew its stake in United States Natural Gas Fund by 9.1% during the fourth quarter. Southport Management L.L.C. now owns 60,000 shares of the exchange traded fund’s stock worth $1,009,000 after buying an additional 5,000 shares in the last quarter. Man Group plc increased its holdings in United States Natural Gas Fund by 41.0% in the 4th quarter. Man Group plc now owns 92,357 shares of the exchange traded fund’s stock valued at $1,553,000 after buying an additional 26,852 shares during the period. Bank of America Corp DE raised its position in shares of United States Natural Gas Fund by 37,448.0% in the 4th quarter. Bank of America Corp DE now owns 244,062 shares of the exchange traded fund’s stock valued at $4,103,000 after buying an additional 243,412 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of United States Natural Gas Fund by 5.8% during the 4th quarter. BNP Paribas Financial Markets now owns 30,167 shares of the exchange traded fund’s stock worth $507,000 after acquiring an additional 1,647 shares during the period.

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.