United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down – Here’s What Happened

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price gapped down before the market opened on Friday. The stock had previously closed at $11.55, but opened at $11.05. United States Natural Gas Fund shares last traded at $10.9870, with a volume of 5,057,925 shares changing hands.

United States Natural Gas Fund Stock Performance

The stock’s fifty day moving average is $10.27 and its two-hundred day moving average is $10.99. The firm has a market cap of $596.64 million, a price-to-earnings ratio of -15.04 and a beta of 0.05.

Hedge Funds Weigh In On United States Natural Gas Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sigma Planning Corp boosted its stake in shares of United States Natural Gas Fund by 14.4% during the 1st quarter. Sigma Planning Corp now owns 13,642 shares of the exchange traded fund’s stock worth $160,000 after acquiring an additional 1,716 shares in the last quarter. Compass Financial Management LLC bought a new stake in United States Natural Gas Fund in the second quarter valued at $26,000. Royal Bank of Canada increased its holdings in 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 valued at $88,000 after purchasing an additional 2,192 shares in the last quarter. Fifth Third Bancorp acquired a new position in United States Natural Gas Fund during the 1st quarter worth about $37,000. Finally, Main Street Group LTD bought a new position in United States Natural Gas Fund in the 1st quarter worth approximately $42,000.

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.