United States Natural Gas Fund (NYSEARCA:UNG) Trading 2.8% Higher – Still a Buy?

United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price was up 2.8% during mid-day trading on Friday . The stock traded as high as $20.83 and last traded at $20.98. Approximately 2,198,642 shares were traded during trading, a decline of 71% from the average daily volume of 7,635,540 shares. The stock had previously closed at $20.41.

United States Natural Gas Fund Trading Up 4.6 %

The firm has a market capitalization of $515.48 million, a price-to-earnings ratio of -18.04 and a beta of 0.20. The stock’s 50-day moving average is $20.03 and its 200-day moving average is $16.66.

Hedge Funds Weigh In On United States Natural Gas Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of United States Natural Gas Fund during the fourth quarter worth $267,000. Freedom Investment Management Inc. acquired a new position in United States Natural Gas Fund during the 3rd quarter worth about $164,000. The Manufacturers Life Insurance Company grew its position in shares of United States Natural Gas Fund by 135.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 545,504 shares of the exchange traded fund’s stock valued at $8,908,000 after buying an additional 314,057 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of United States Natural Gas Fund in the 3rd quarter valued at about $29,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of United States Natural Gas Fund by 17.7% in the third quarter. Daiwa Securities Group Inc. now owns 88,893 shares of the exchange traded fund’s stock valued at $1,452,000 after buying an additional 13,400 shares during the period.

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.