United States Natural Gas Fund (NYSEARCA:UNG) Shares Up 4.6% – Still a Buy?

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price traded up 4.6% on Wednesday . The stock traded as high as $16.79 and last traded at $16.72. 1,788,864 shares changed hands during trading, a decline of 86% from the average session volume of 13,046,275 shares. The stock had previously closed at $15.99.

United States Natural Gas Fund Trading Up 7.7 %

The company’s 50-day moving average price is $14.63 and its two-hundred day moving average price is $14.67. The company has a market cap of $1.06 billion, a P/E ratio of -11.60 and a beta of 0.17.

Hedge Funds Weigh In On United States Natural Gas Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hobbs Group Advisors LLC purchased a new position in shares of United States Natural Gas Fund during the third quarter valued at $29,000. Freedom Investment Management Inc. acquired a new position in United States Natural Gas Fund in the 3rd quarter valued at approximately $164,000. J.W. Cole Advisors Inc. purchased a new stake in United States Natural Gas Fund in the 2nd quarter worth approximately $184,000. Hourglass Capital LLC purchased a new position in shares of United States Natural Gas Fund during the 3rd quarter valued at $204,000. Finally, Security National Bank purchased a new position in shares of United States Natural Gas Fund during the 3rd quarter valued at $262,000.

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.