United States Natural Gas Fund (NYSEARCA:UNG) Stock Price Down 6.4% – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price fell 6.4% during mid-day trading on Wednesday . The company traded as low as $14.03 and last traded at $14.11. 2,005,562 shares were traded during trading, a decline of 72% from the average session volume of 7,196,291 shares. The stock had previously closed at $15.08.

United States Natural Gas Fund Stock Performance

The company’s fifty day moving average is $14.34 and its 200-day moving average is $15.51. The company has a market capitalization of $802.49 million, a PE ratio of -11.60 and a beta of 0.17.

Institutional Trading of United States Natural Gas Fund

Several hedge funds have recently modified their holdings of UNG. Quadrature Capital Ltd purchased a new position in shares of United States Natural Gas Fund in the third quarter valued at $6,751,000. Virtu Financial LLC bought a new stake in shares of United States Natural Gas Fund in the 3rd quarter worth about $6,482,000. The Manufacturers Life Insurance Company raised its position in shares of United States Natural Gas Fund by 135.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock valued at $8,908,000 after buying an additional 314,057 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of United States Natural Gas Fund in the 2nd quarter valued at about $4,034,000. Finally, CreativeOne Wealth LLC purchased a new position in United States Natural Gas Fund in the third quarter worth about $1,106,000.

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.