United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG) shares gapped down before the market opened on Monday . The stock had previously closed at $14.80, but opened at $14.35. United States Natural Gas Fund shares last traded at $14.35, with a volume of 817,513 shares traded.

United States Natural Gas Fund Price Performance

The company has a market cap of $807.68 million, a PE ratio of -11.60 and a beta of 0.17. The company has a 50-day moving average price of $14.63 and a two-hundred day moving average price of $15.83.

Hedge Funds Weigh In On United States Natural Gas Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNG. International Assets Investment Management LLC bought a new position in United States Natural Gas Fund during the 2nd quarter valued at $50,000. Creekmur Asset Management LLC bought a new position in shares of United States Natural Gas Fund during the first quarter worth about $63,000. MONECO Advisors LLC acquired a new position in United States Natural Gas Fund in the fourth quarter worth about $63,000. Saxon Interests Inc. acquired a new position in United States Natural Gas Fund in the first quarter worth about $148,000. Finally, J.W. Cole Advisors Inc. bought a new stake in United States Natural Gas Fund in the second quarter valued at about $184,000.

United States Natural Gas Fund Company Profile

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.