United States Natural Gas Fund (NYSEARCA:UNG) Shares Down 3.2% – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG) dropped 3.2% on Tuesday . The company traded as low as $16.59 and last traded at $16.61. Approximately 2,707,830 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 12,421,785 shares. The stock had previously closed at $17.16.

United States Natural Gas Fund Trading Up 7.0 %

The company has a 50-day moving average of $14.54 and a 200-day moving average of $14.65. The firm has a market capitalization of $986.39 million, a price-to-earnings ratio of -11.60 and a beta of 0.17.

Institutional Investors Weigh In On United States Natural Gas Fund

A number of institutional investors have recently modified their holdings of UNG. Hobbs Group Advisors LLC bought a new stake in United States Natural Gas Fund in the third quarter valued at $29,000. Daymark Wealth Partners LLC increased its holdings in shares of United States Natural Gas Fund by 17.2% in the 3rd quarter. Daymark Wealth Partners LLC now owns 19,250 shares of the exchange traded fund’s stock worth $314,000 after acquiring an additional 2,825 shares during the period. Sweet Financial Partners LLC lifted its position in United States Natural Gas Fund by 18.7% in the 3rd quarter. Sweet Financial Partners LLC now owns 21,125 shares of the exchange traded fund’s stock valued at $345,000 after purchasing an additional 3,325 shares during the last quarter. Private Wealth Partners LLC boosted its stake in United States Natural Gas Fund by 100.0% during the 3rd quarter. Private Wealth Partners LLC now owns 20,000 shares of the exchange traded fund’s stock valued at $327,000 after purchasing an additional 10,000 shares during the period. Finally, Freedom Investment Management Inc. bought a new position in United States Natural Gas Fund in the 3rd quarter worth about $164,000.

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.