United States Natural Gas Fund (NYSEARCA:UNG) Trading Down 3.2% – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price traded down 3.2% during mid-day trading on Friday . The stock traded as low as $11.84 and last traded at $11.8670. 2,073,369 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 9,759,567 shares. The stock had previously closed at $12.26.

United States Natural Gas Fund Stock Performance

The stock’s 50 day simple moving average is $13.67 and its 200 day simple moving average is $13.68. The firm has a market cap of $587.41 million, a P/E ratio of -15.04 and a beta of -0.12.

Hedge Funds Weigh In On United States Natural Gas Fund

A number of institutional investors have recently added to or reduced their stakes in UNG. Insigneo Advisory Services LLC boosted its holdings in shares of United States Natural Gas Fund by 3.9% in the 3rd quarter. Insigneo Advisory Services LLC now owns 20,965 shares of the exchange traded fund’s stock valued at $274,000 after buying an additional 779 shares in the last quarter. Scotia Capital Inc. lifted its holdings in United States Natural Gas Fund by 6.8% in the 2nd quarter. Scotia Capital Inc. now owns 18,882 shares of the exchange traded fund’s stock valued at $289,000 after purchasing an additional 1,205 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of United States Natural Gas Fund by 11.0% during the 3rd quarter. Prospera Financial Services Inc now owns 13,374 shares of the exchange traded fund’s stock valued at $175,000 after acquiring an additional 1,320 shares during the last quarter. Comerica Bank increased its position in shares of United States Natural Gas Fund by 1,412.9% during the 1st quarter. Comerica Bank now owns 2,693 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 2,515 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of United States Natural Gas Fund by 55.0% during the third quarter. BNP Paribas Financial Markets now owns 7,305 shares of the exchange traded fund’s stock worth $95,000 after purchasing an additional 2,593 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.