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

United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $11.32, but opened at $10.57. United States Natural Gas Fund shares last traded at $10.4550, with a volume of 6,727,377 shares traded.

United States Natural Gas Fund Stock Performance

The stock has a market cap of $532.51 million, a price-to-earnings ratio of -15.04 and a beta of -0.12. The business’s 50 day moving average is $13.26 and its 200 day moving average is $13.28.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Jump Financial LLC acquired a new stake in United States Natural Gas Fund during the 3rd quarter worth about $7,376,000. Virtu Financial LLC purchased a new position in United States Natural Gas Fund during the third quarter valued at approximately $5,004,000. Flow Traders U.S. LLC acquired a new position in United States Natural Gas Fund in the 3rd quarter valued at approximately $4,665,000. JPMorgan Chase & Co. boosted its stake in shares of United States Natural Gas Fund by 258.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 220,620 shares of the exchange traded fund’s stock valued at $2,884,000 after buying an additional 159,117 shares during the period. Finally, Perissos Private Wealth Management LLC acquired a new stake in shares of United States Natural Gas Fund during the 3rd quarter valued at $1,310,000.

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.