United States Natural Gas Fund (NYSEARCA:UNG) Trading Down 4% – Here’s What Happened

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price traded down 4% during trading on Thursday . The stock traded as low as $21.48 and last traded at $21.46. 2,090,144 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 7,612,224 shares. The stock had previously closed at $22.35.

United States Natural Gas Fund Stock Performance

The business’s 50 day moving average is $19.92 and its 200 day moving average is $16.48. The stock has a market cap of $503.29 million, a price-to-earnings ratio of -18.04 and a beta of 0.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of UNG. Hobbs Group Advisors LLC acquired a new stake in United States Natural Gas Fund during the 3rd quarter worth about $29,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of United States Natural Gas Fund during the fourth quarter worth approximately $32,000. Transce3nd LLC acquired a new stake in shares of United States Natural Gas Fund during the fourth quarter worth approximately $137,000. Freedom Investment Management Inc. purchased a new position in United States Natural Gas Fund during the third quarter valued at approximately $164,000. Finally, Northern Trust Corp increased its stake in United States Natural Gas Fund by 5.5% in the 4th quarter. Northern Trust Corp now owns 11,077 shares of the exchange traded fund’s stock valued at $186,000 after buying an additional 577 shares during the period.

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.