United States Natural Gas Fund (NYSEARCA:UNG) Hits New 12-Month High – Here’s What Happened

United States Natural Gas Fund LP (NYSEARCA:UNG) hit a new 52-week high on Wednesday . The stock traded as high as $21.88 and last traded at $22.16, with a volume of 1730582 shares traded. The stock had previously closed at $20.95.

United States Natural Gas Fund Price Performance

The company has a market capitalization of $1.27 billion, a P/E ratio of -11.60 and a beta of 0.17. The business has a 50-day moving average of $17.15 and a 200-day moving average of $15.21.

Hedge Funds Weigh In On United States Natural Gas Fund

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