United States Natural Gas Fund (NYSEARCA:UNG) Stock Price Up 3% – Here’s Why

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) were up 3% during mid-day trading on Thursday . The stock traded as high as $21.97 and last traded at $21.69. Approximately 1,063,869 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 7,598,213 shares. The stock had previously closed at $21.05.

United States Natural Gas Fund Trading Up 3.1 %

The stock has a market capitalization of $524.06 million, a PE ratio of -17.89 and a beta of 0.14. The company has a 50 day simple moving average of $20.27 and a 200 day simple moving average of $16.87.

Hedge Funds Weigh In On United States Natural Gas Fund

A number of large investors have recently bought and sold shares of the company. Sourcerock Group LLC purchased a new position in United States Natural Gas Fund in the 4th quarter valued at approximately $10,406,000. Quadrature Capital Ltd acquired a new stake in United States Natural Gas Fund in the 3rd quarter valued at about $6,751,000. Virtu Financial LLC purchased a new position in United States Natural Gas Fund during the 3rd quarter valued at about $6,482,000. The Manufacturers Life Insurance Company raised its position in United States Natural Gas Fund by 135.7% during the third quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock worth $8,908,000 after acquiring an additional 314,057 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of United States Natural Gas Fund by 37,448.0% in the fourth quarter. Bank of America Corp DE now owns 244,062 shares of the exchange traded fund’s stock worth $4,103,000 after acquiring an additional 243,412 shares during the last quarter.

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.