United States Natural Gas Fund (NYSEARCA:UNG) Stock Price Up 2.8% – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price shot up 2.8% during mid-day trading on Friday . The company traded as high as $20.83 and last traded at $20.98. 2,198,642 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 7,635,540 shares. The stock had previously closed at $20.41.

United States Natural Gas Fund Price Performance

The firm’s 50-day simple moving average is $20.09 and its 200 day simple moving average is $16.73. The firm has a market capitalization of $515.12 million, a price-to-earnings ratio of -18.04 and a beta of 0.20.

Institutional Trading of United States Natural Gas Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp lifted its stake in United States Natural Gas Fund by 5.5% in the 4th quarter. Northern Trust Corp now owns 11,077 shares of the exchange traded fund’s stock valued at $186,000 after purchasing an additional 577 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of United States Natural Gas Fund by 5.8% during the fourth quarter. BNP Paribas Financial Markets now owns 30,167 shares of the exchange traded fund’s stock worth $507,000 after buying an additional 1,647 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of United States Natural Gas Fund in the 3rd quarter valued at $29,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of United States Natural Gas Fund during the 4th quarter valued at $32,000. Finally, Wells Fargo & Company MN grew its position in United States Natural Gas Fund by 0.8% during the 4th quarter. Wells Fargo & Company MN now owns 349,559 shares of the exchange traded fund’s stock worth $5,876,000 after acquiring an additional 2,644 shares during the last quarter.

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.