United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down – Time to Sell?

United States Natural Gas Fund LP (NYSEARCA:UNG) gapped down prior to trading on Thursday . The stock had previously closed at $21.65, but opened at $21.10. United States Natural Gas Fund shares last traded at $21.18, with a volume of 1,040,779 shares changing hands.

United States Natural Gas Fund Stock Performance

The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -18.00 and a beta of 0.28. The company has a fifty day simple moving average of $19.49 and a two-hundred day simple moving average of $16.20.

Hedge Funds Weigh In On United States Natural Gas Fund

A number of institutional investors have recently modified their holdings of UNG. SG Americas Securities LLC acquired a new stake in shares of United States Natural Gas Fund in the fourth quarter valued at about $267,000. Freedom Investment Management Inc. acquired a new stake in shares of United States Natural Gas Fund in the third quarter valued at about $164,000. The Manufacturers Life Insurance Company grew its stake in United States Natural Gas Fund by 135.7% during the third quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock worth $8,908,000 after purchasing an additional 314,057 shares during the period. Daiwa Securities Group Inc. grew its stake in United States Natural Gas Fund by 17.7% during the third quarter. Daiwa Securities Group Inc. now owns 88,893 shares of the exchange traded fund’s stock worth $1,452,000 after purchasing an additional 13,400 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in United States Natural Gas Fund during the third quarter worth approximately $29,000.

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.