Corning Natural Gas (OTCMKTS:CNIG) Stock Passes Below 200-Day Moving Average – Here’s Why

Corning Natural Gas Holding Corp. (OTCMKTS:CNIG) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $24.70 and traded as low as $24.66. Corning Natural Gas shares last traded at $24.70, with a volume of 4,000 shares trading hands.

Corning Natural Gas Price Performance

The business has a 50 day moving average of $24.70 and a 200 day moving average of $24.70.

Hedge Funds Weigh In On Corning Natural Gas

A hedge fund recently bought a new position in Corning Natural Gas stock. S&CO Inc. bought a new stake in shares of Corning Natural Gas Holding Corp. (OTCMKTS:CNIG) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 2,550 shares of the utilities provider’s stock, valued at approximately $651,000.

About Corning Natural Gas

Corning Natural Gas Corporation is a publicly traded utility company that engages in the purchase, transport and distribution of natural gas to residential, commercial and industrial customers. As a regulated local gas distribution company, it acquires natural gas supplies from interstate pipelines and field producers, then delivers and meters the fuel through its network of transmission mains, distribution lines and service connections. The company’s operations encompass routine system maintenance, pipeline integrity inspections and emergency response services, ensuring safe and reliable gas delivery throughout its service area.

Founded in the mid-19th century and headquartered in Corning, New York, Corning Natural Gas has developed a network serving communities in New York’s Southern Tier and Finger Lakes regions.