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

United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price gapped up prior to trading on Monday . The stock had previously closed at $15.76, but opened at $18.63. United States Natural Gas Fund shares last traded at $19.15, with a volume of 7,164,595 shares changing hands.

United States Natural Gas Fund Stock Performance

The firm has a market capitalization of $969.10 million, a P/E ratio of -11.60 and a beta of 0.17. The stock’s 50 day simple moving average is $14.20 and its 200 day simple moving average is $14.73.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in UNG. Virtu Financial LLC bought a new position in shares of United States Natural Gas Fund in the 3rd quarter worth $6,482,000. Hobbs Group Advisors LLC acquired a new position in United States Natural Gas Fund in the 3rd quarter worth approximately $29,000. MML Investors Services LLC acquired a new stake in United States Natural Gas Fund during the 3rd quarter valued at approximately $712,000. Quadrature Capital Ltd purchased a new stake in shares of United States Natural Gas Fund in the 3rd quarter valued at $6,751,000. Finally, IHT Wealth Management LLC increased its stake in shares of United States Natural Gas Fund by 207.9% in the third quarter. IHT Wealth Management LLC now owns 31,025 shares of the exchange traded fund’s stock worth $507,000 after acquiring an additional 20,949 shares during the period.

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.