United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Up to $14.42

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $14.42, but opened at $14.71. United States Natural Gas Fund shares last traded at $14.75, with a volume of 931,504 shares changing hands.

United States Natural Gas Fund Stock Performance

The stock’s 50-day simple moving average is $15.48 and its 200-day simple moving average is $20.90. The firm has a market capitalization of $790.66 million, a PE ratio of -11.91 and a beta of 0.16.

Hedge Funds Weigh In On United States Natural Gas Fund

A number of hedge funds have recently bought and sold shares of UNG. JPMorgan Chase & Co. boosted its stake in United States Natural Gas Fund by 138.0% in the 1st quarter. JPMorgan Chase & Co. now owns 43,799 shares of the exchange traded fund’s stock worth $864,000 after purchasing an additional 25,395 shares in the last quarter. NewEdge Advisors LLC bought a new position in United States Natural Gas Fund in the 1st quarter worth about $2,443,000. Flow Traders U.S. LLC lifted its stake in United States Natural Gas Fund by 14.8% during the 1st quarter. Flow Traders U.S. LLC now owns 38,666 shares of the exchange traded fund’s stock valued at $762,000 after acquiring an additional 4,987 shares during the period. Royal Bank of Canada lifted its stake in United States Natural Gas Fund by 525.4% during the 1st quarter. Royal Bank of Canada now owns 134,892 shares of the exchange traded fund’s stock valued at $2,659,000 after acquiring an additional 113,324 shares during the period. Finally, Virtu Financial LLC bought a new position in United States Natural Gas Fund during the 1st quarter valued at about $11,345,000.

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.