United States Natural Gas Fund (NYSEARCA:UNG) Sets New 52-Week Low – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price reached a new 52-week low on Thursday. The stock traded as low as $9.23 and last traded at $9.2470, with a volume of 2,803,942 shares changing hands. The stock had previously closed at $9.50.

United States Natural Gas Fund Stock Performance

The company’s 50 day moving average price is $10.45 and its 200-day moving average price is $11.21. The company has a market cap of $514.37 million, a price-to-earnings ratio of -15.04 and a beta of 0.21.

Institutional Investors Weigh In On United States Natural Gas Fund

Several hedge funds have recently modified their holdings of the stock. Blueprint Investment Partners LLC purchased a new stake in United States Natural Gas Fund during the third quarter valued at about $311,000. Blueprint Financial Advisors LLC acquired a new position in United States Natural Gas Fund in the 3rd quarter worth approximately $311,000. Apollon Wealth Management LLC acquired a new position in United States Natural Gas Fund in the 3rd quarter worth approximately $112,000. Sigma Planning Corp boosted its stake in United States Natural Gas Fund by 17.3% in the 3rd quarter. Sigma Planning Corp now owns 17,876 shares of the exchange traded fund’s stock worth $185,000 after purchasing an additional 2,642 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new position in United States Natural Gas Fund during the 3rd quarter worth approximately $145,000.

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.