United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down to $20.07

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United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price gapped down before the market opened on Monday . The stock had previously closed at $20.80, but opened at $20.07. United States Natural Gas Fund shares last traded at $19.41, with a volume of 4,834,100 shares.

The firm has a 50-day moving average of $20.76 and a 200 day moving average of $20.73.

Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its position in shares of United States Natural Gas Fund by 170.5% in the 2nd quarter. Morgan Stanley now owns 218,227 shares of the exchange traded fund’s stock valued at $4,341,000 after purchasing an additional 137,546 shares in the last quarter. XR Securities LLC acquired a new position in shares of United States Natural Gas Fund in the 2nd quarter valued at approximately $1,201,000. Wells Fargo & Company MN raised its position in shares of United States Natural Gas Fund by 379.4% in the 2nd quarter. Wells Fargo & Company MN now owns 35,579 shares of the exchange traded fund’s stock valued at $707,000 after purchasing an additional 28,158 shares in the last quarter. Traynor Capital Management Inc. acquired a new position in shares of United States Natural Gas Fund in the 2nd quarter valued at approximately $330,000. Finally, Flagship Harbor Advisors LLC raised its position in shares of United States Natural Gas Fund by 710.0% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 16,200 shares of the exchange traded fund’s stock valued at $322,000 after purchasing an additional 14,200 shares in the last quarter.

United States Natural Gas Fund Company Profile (NYSEARCA:UNG)

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.

Further Reading: Capital Gains Distribution

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