United States Natural Gas Fund (NYSEARCA:UNG) Trading 3.2% Higher – Still a Buy?

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) traded up 3.2% on Monday . The stock traded as high as $13.27 and last traded at $13.2140. 9,731,853 shares were traded during mid-day trading, an increase of 1% from the average session volume of 9,596,091 shares. The stock had previously closed at $12.81.

United States Natural Gas Fund Price Performance

The firm’s 50-day moving average price is $13.70 and its 200-day moving average price is $13.70. The stock has a market cap of $589.81 million, a P/E ratio of -15.04 and a beta of -0.12.

Institutional Trading of United States Natural Gas Fund

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in shares of United States Natural Gas Fund by 5,325.8% during the first quarter. BNP Paribas Financial Markets now owns 1,636,789 shares of the exchange traded fund’s stock valued at $35,371,000 after purchasing an additional 1,606,622 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of United States Natural Gas Fund in the third quarter worth about $7,376,000. Virtu Financial LLC bought a new position in United States Natural Gas Fund during the third quarter valued at approximately $5,004,000. Flow Traders U.S. LLC bought a new position in United States Natural Gas Fund during the third quarter valued at approximately $4,665,000. Finally, JPMorgan Chase & Co. grew its holdings in 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 in the last quarter.

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.