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

United States Natural Gas Fund LP (NYSEARCA:UNG) shares gapped up before the market opened on Friday . The stock had previously closed at $15.66, but opened at $16.37. United States Natural Gas Fund shares last traded at $16.6160, with a volume of 3,567,495 shares trading hands.

United States Natural Gas Fund Price Performance

The business has a fifty day moving average price of $13.57 and a 200 day moving average price of $14.17. The company has a market capitalization of $809.26 million, a price-to-earnings ratio of -15.04 and a beta of -0.12.

Institutional Investors Weigh In On United States Natural Gas Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in United States Natural Gas Fund by 5,325.8% in the first quarter. BNP Paribas Financial Markets now owns 1,636,789 shares of the exchange traded fund’s stock worth $35,371,000 after purchasing an additional 1,606,622 shares during the period. Jump Financial LLC bought a new stake in shares of United States Natural Gas Fund in the 3rd quarter worth $7,376,000. Virtu Financial LLC acquired a new stake in shares of United States Natural Gas Fund in the third quarter valued at $5,004,000. Flow Traders U.S. LLC bought a new position in United States Natural Gas Fund during the third quarter valued at about $4,665,000. Finally, JPMorgan Chase & Co. grew its holdings in United States Natural Gas Fund by 258.7% during the third quarter. JPMorgan Chase & Co. now owns 220,620 shares of the exchange traded fund’s stock worth $2,884,000 after acquiring an additional 159,117 shares during the period.

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.