United States Natural Gas Fund (NYSEARCA:UNG) Shares Up 5% – Here’s Why

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) were up 5% on Thursday . The stock traded as high as $15.30 and last traded at $15.27. Approximately 7,509,762 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 7,251,364 shares. The stock had previously closed at $14.54.

United States Natural Gas Fund Stock Performance

The business has a 50 day moving average price of $13.78 and a 200-day moving average price of $15.00. The company has a market capitalization of $888.96 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

Several hedge funds and other institutional investors have recently made changes to their positions in UNG. International Assets Investment Management LLC bought a new position in United States Natural Gas Fund during the second quarter worth about $50,000. J.W. Cole Advisors Inc. bought a new position in shares of United States Natural Gas Fund in the second quarter worth approximately $184,000. Insigneo Advisory Services LLC bought a new stake in United States Natural Gas Fund during the second quarter valued at approximately $417,000. The Manufacturers Life Insurance Company purchased a new position in United States Natural Gas Fund in the 2nd quarter worth approximately $4,034,000. Finally, Creative Planning purchased a new stake in shares of United States Natural Gas Fund during the 2nd quarter valued at $379,000.

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.