United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Up – Still a Buy?

Shares of United States Natural Gas Fund LP (NYSEARCA:UNG) gapped up before the market opened on Friday . The stock had previously closed at $15.06, but opened at $15.84. United States Natural Gas Fund shares last traded at $15.7840, with a volume of 3,577,041 shares.

United States Natural Gas Fund Trading Up 6.6%

The stock has a market cap of $607.91 million, a price-to-earnings ratio of -15.04 and a beta of -0.12. The company has a 50 day simple moving average of $13.04 and a 200-day simple moving average of $13.16.

Institutional Investors Weigh In On United States Natural Gas Fund

Several institutional investors have recently bought and sold shares of UNG. Cetera Investment Advisers raised its holdings in shares of United States Natural Gas Fund by 51.1% in the second quarter. Cetera Investment Advisers now owns 135,405 shares of the exchange traded fund’s stock valued at $2,069,000 after purchasing an additional 45,783 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in United States Natural Gas Fund by 52,535.0% during the third quarter. Farther Finance Advisors LLC now owns 52,635 shares of the exchange traded fund’s stock worth $688,000 after purchasing an additional 52,535 shares during the last quarter. Centric Wealth Management bought a new position in United States Natural Gas Fund in the second quarter valued at $1,222,000. PFG Investments LLC bought a new position in United States Natural Gas Fund in the third quarter valued at $715,000. Finally, Insigneo Advisory Services LLC increased its stake in United States Natural Gas Fund by 41.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 20,186 shares of the exchange traded fund’s stock valued at $308,000 after buying an additional 5,963 shares during the last quarter.

United States Natural Gas Fund Company Profile

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.