United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Up – Should You Buy?

United States Natural Gas Fund LP (NYSEARCA:UNG) gapped up prior to trading on Monday . The stock had previously closed at $21.33, but opened at $22.12. United States Natural Gas Fund shares last traded at $21.62, with a volume of 1,079,814 shares changing hands.

United States Natural Gas Fund Price Performance

The business’s 50 day simple moving average is $20.22 and its 200-day simple moving average is $16.84. The stock has a market capitalization of $499.91 million, a P/E ratio of -17.89 and a beta of 0.14.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sourcerock Group LLC acquired a new stake in shares of United States Natural Gas Fund in the 4th quarter valued at approximately $10,406,000. Southport Management L.L.C. increased its stake in United States Natural Gas Fund by 9.1% in the fourth quarter. Southport Management L.L.C. now owns 60,000 shares of the exchange traded fund’s stock valued at $1,009,000 after purchasing an additional 5,000 shares in the last quarter. Man Group plc raised its holdings in United States Natural Gas Fund by 41.0% in the fourth quarter. Man Group plc now owns 92,357 shares of the exchange traded fund’s stock worth $1,553,000 after purchasing an additional 26,852 shares during the period. Bank of America Corp DE boosted its position in shares of United States Natural Gas Fund by 37,448.0% during the fourth quarter. Bank of America Corp DE now owns 244,062 shares of the exchange traded fund’s stock worth $4,103,000 after purchasing an additional 243,412 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of United States Natural Gas Fund by 5.8% during the fourth quarter. BNP Paribas Financial Markets now owns 30,167 shares of the exchange traded fund’s stock worth $507,000 after purchasing an additional 1,647 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.