United States Natural Gas Fund (NYSEARCA:UNG) Stock Price Up 2.8% – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price was up 2.8% during trading on Friday . The stock traded as high as $20.83 and last traded at $20.98. Approximately 2,198,642 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 7,635,540 shares. The stock had previously closed at $20.41.

United States Natural Gas Fund Stock Performance

The business’s 50-day simple moving average is $20.03 and its 200-day simple moving average is $16.66. The company has a market capitalization of $515.48 million, a price-to-earnings ratio of -18.04 and a beta of 0.20.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sourcerock Group LLC acquired a new position in United States Natural Gas Fund during the fourth quarter valued at approximately $10,406,000. The Manufacturers Life Insurance Company increased its holdings in United States Natural Gas Fund by 135.7% during the third quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock worth $8,908,000 after buying an additional 314,057 shares during the last quarter. Quadrature Capital Ltd bought a new stake in United States Natural Gas Fund during the third quarter worth $6,751,000. Virtu Financial LLC bought a new stake in shares of United States Natural Gas Fund in the 3rd quarter valued at about $6,482,000. Finally, Wells Fargo & Company MN lifted its stake in United States Natural Gas Fund by 0.8% in the 4th quarter. Wells Fargo & Company MN now owns 349,559 shares of the exchange traded fund’s stock valued at $5,876,000 after purchasing an additional 2,644 shares during the last quarter.

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.