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

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price gapped down before the market opened 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 changing hands.

United States Natural Gas Fund Stock Down 3.6%

The stock has a market capitalization of $597.50 million, a PE ratio of -15.04 and a beta of -0.12. The stock’s 50-day moving average is $13.65 and its 200 day moving average is $13.83.

Hedge Funds Weigh In On United States Natural Gas Fund

A number of hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new stake in United States Natural Gas Fund during the third quarter valued at $104,000. Advisory Services Network LLC raised its stake in shares of United States Natural Gas Fund by 16.6% during the 3rd quarter. Advisory Services Network LLC now owns 29,434 shares of the exchange traded fund’s stock worth $385,000 after purchasing an additional 4,199 shares in the last quarter. Verity Asset Management Inc. raised its stake in shares of United States Natural Gas Fund by 49.8% during the 3rd quarter. Verity Asset Management Inc. now owns 28,658 shares of the exchange traded fund’s stock worth $375,000 after purchasing an additional 9,527 shares in the last quarter. Prosperity Wealth Management Inc. acquired a new stake in shares of United States Natural Gas Fund during the 3rd quarter valued at about $312,000. Finally, National Bank of Canada FI grew its stake in shares of United States Natural Gas Fund by 139.2% in the 3rd quarter. National Bank of Canada FI now owns 10,549 shares of the exchange traded fund’s stock valued at $138,000 after buying an additional 6,138 shares in 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.