United States Natural Gas Fund LP (NYSEARCA:UNG) Sees Large Decline in Short Interest

United States Natural Gas Fund LP (NYSEARCA:UNG) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 3,103,119 shares, a decline of 40.9% from the April 15th total of 5,249,682 shares. Approximately 6.4% of the company’s shares are sold short. Based on an average daily trading volume, of 9,975,700 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of United States Natural Gas Fund

Institutional investors have recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in United States Natural Gas Fund in the 3rd quarter valued at approximately $7,376,000. Arkadios Wealth Advisors purchased a new stake in United States Natural Gas Fund in the fourth quarter valued at approximately $6,451,000. Virtu Financial LLC purchased a new stake in United States Natural Gas Fund in the third quarter valued at approximately $5,004,000. Flow Traders U.S. LLC purchased a new stake in United States Natural Gas Fund in the third quarter valued at approximately $4,665,000. Finally, JPMorgan Chase & Co. raised its position in United States Natural Gas Fund by 258.7% in the third quarter. JPMorgan Chase & Co. now owns 220,620 shares of the exchange traded fund’s stock valued at $2,884,000 after purchasing an additional 159,117 shares during the period.

United States Natural Gas Fund Price Performance

Shares of UNG stock traded up $0.21 during trading on Monday, hitting $11.54. 8,518,398 shares of the stock traded hands, compared to its average volume of 15,638,039. The firm has a market capitalization of $560.27 million, a P/E ratio of -15.04 and a beta of 0.03. The firm’s fifty day moving average price is $11.38 and its 200-day moving average price is $12.46. United States Natural Gas Fund has a 52-week low of $9.95 and a 52-week high of $18.12.

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.