United States Natural Gas Fund (NYSEARCA:UNG) Trading 2.9% Higher – Still a Buy?

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) rose 2.9% during trading on Friday . The company traded as high as $15.89 and last traded at $15.82. Approximately 2,597,809 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 7,259,809 shares. The stock had previously closed at $15.37.

United States Natural Gas Fund Price Performance

The firm’s 50 day moving average is $13.98 and its 200 day moving average is $14.89. The company has a market cap of $892.42 million, a PE ratio of -11.60 and a beta of 0.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hobbs Group Advisors LLC purchased a new stake in United States Natural Gas Fund during the third quarter valued at about $29,000. International Assets Investment Management LLC purchased a new stake in United States Natural Gas Fund in the second quarter worth approximately $50,000. Freedom Investment Management Inc. bought a new stake in shares of United States Natural Gas Fund in the 3rd quarter worth approximately $164,000. J.W. Cole Advisors Inc. purchased a new stake in shares of United States Natural Gas Fund in the 2nd quarter valued at $184,000. Finally, Hourglass Capital LLC purchased a new position in United States Natural Gas Fund in the 3rd quarter worth $204,000.

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.