United States Natural Gas Fund (NYSEARCA:UNG) Stock Jumps 3.5% – What’s Next?

United States Natural Gas Fund LP (NYSEARCA:UNG) shot up 3.5% during trading on Wednesday. The stock traded as high as $11.09 and last traded at $11.1150. Approximately 8,328,682 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 14,062,158 shares. The stock had previously closed at $10.74.

United States Natural Gas Fund Stock Up 2.6%

The stock has a market cap of $497.37 million, a P/E ratio of -15.04 and a beta of 0.21. The firm’s 50-day moving average is $10.30 and its two-hundred day moving average is $10.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UNG. Integrated Wealth Concepts LLC bought a new stake in United States Natural Gas Fund in the second quarter worth $199,000. Compass Financial Management LLC bought a new position in United States Natural Gas Fund during the second quarter valued at about $26,000. Axiom Investment Management LLC acquired a new stake in shares of United States Natural Gas Fund in the first quarter worth about $229,000. Royal Bank of Canada boosted its stake in shares of United States Natural Gas Fund by 41.0% during the 1st quarter. Royal Bank of Canada now owns 7,538 shares of the exchange traded fund’s stock worth $88,000 after acquiring an additional 2,192 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in shares of United States Natural Gas Fund during the 1st quarter worth about $37,000.

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.