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

United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price gapped down prior to trading on Monday . The stock had previously closed at $12.19, but opened at $11.75. United States Natural Gas Fund shares last traded at $11.5830, with a volume of 3,894,516 shares.

United States Natural Gas Fund Stock Performance

The firm has a market capitalization of $555.55 million, a P/E ratio of -15.04 and a beta of -0.12. The firm has a 50 day moving average price of $13.64 and a two-hundred day moving average price of $13.89.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Compound Planning Inc. acquired a new stake in shares of United States Natural Gas Fund during the first quarter valued at approximately $331,000. Jump Financial LLC purchased a new stake in shares of United States Natural Gas Fund in the first quarter valued at $11,447,000. Comerica Bank boosted its position in shares of United States Natural Gas Fund by 1,412.9% in the first quarter. Comerica Bank now owns 2,693 shares of the exchange traded fund’s stock worth $58,000 after buying an additional 2,515 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of United States Natural Gas Fund by 5,325.8% during the first quarter. BNP Paribas Financial Markets now owns 1,636,789 shares of the exchange traded fund’s stock valued at $35,371,000 after buying an additional 1,606,622 shares in the last quarter. Finally, Royal Bank of Canada raised its position in United States Natural Gas Fund by 490.7% during the first quarter. Royal Bank of Canada now owns 14,880 shares of the exchange traded fund’s stock valued at $322,000 after buying an additional 12,361 shares during the period.

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.