United States Natural Gas Fund (NYSEARCA:UNG) Shares Up 2.8% – Still a Buy?

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price was up 2.8% during mid-day trading on Friday . The stock traded as high as $20.83 and last traded at $20.98. Approximately 2,198,642 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 7,635,540 shares. The stock had previously closed at $20.41.

United States Natural Gas Fund Price Performance

The stock has a 50-day moving average price of $20.09 and a 200-day moving average price of $16.73. The company has a market capitalization of $515.12 million, a price-to-earnings ratio of -18.04 and a beta of 0.20.

Institutional Investors Weigh In On United States Natural Gas Fund

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of United States Natural Gas Fund during the fourth quarter worth approximately $267,000. Freedom Investment Management Inc. bought a new stake in United States Natural Gas Fund in the 3rd quarter valued at $164,000. The Manufacturers Life Insurance Company grew its holdings 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 valued at $8,908,000 after buying an additional 314,057 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in United States Natural Gas Fund during the 3rd quarter worth $29,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of United States Natural Gas Fund by 17.7% during the third quarter. Daiwa Securities Group Inc. now owns 88,893 shares of the exchange traded fund’s stock worth $1,452,000 after buying an additional 13,400 shares in the last quarter.

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.