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

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) gapped up prior to trading on Monday . The stock had previously closed at $23.19, but opened at $23.87. United States Natural Gas Fund shares last traded at $23.73, with a volume of 1,368,039 shares traded.

United States Natural Gas Fund Price Performance

The stock has a market capitalization of $1.51 billion, a PE ratio of -18.00 and a beta of 0.28. The firm’s 50 day simple moving average is $19.18 and its 200 day simple moving average is $16.06.

Institutional Trading of United States Natural Gas Fund

Large investors have recently added to or reduced their stakes in the stock. Sigma Planning Corp purchased a new position in United States Natural Gas Fund in the 3rd quarter worth about $318,000. Hourglass Capital LLC bought a new position in shares of United States Natural Gas Fund during the 3rd quarter valued at approximately $204,000. Daiwa Securities Group Inc. grew its stake in shares of United States Natural Gas Fund by 17.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 88,893 shares of the exchange traded fund’s stock valued at $1,452,000 after acquiring an additional 13,400 shares during the period. The Manufacturers Life Insurance Company boosted its stake in United States Natural Gas Fund by 135.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock worth $8,908,000 after purchasing an additional 314,057 shares during the period. Finally, Freedom Investment Management Inc. bought a new position in United States Natural Gas Fund in the 3rd quarter worth approximately $164,000.

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.