United States Natural Gas Fund (NYSEARCA:UNG) Shares Down 6.4% – Time to Sell?

United States Natural Gas Fund LP (NYSEARCA:UNG) shares dropped 6.4% during mid-day trading on Wednesday . The stock traded as low as $14.03 and last traded at $14.11. Approximately 2,005,562 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 7,196,291 shares. The stock had previously closed at $15.08.

United States Natural Gas Fund Stock Down 8.4 %

The firm has a market capitalization of $796.15 million, a P/E ratio of -11.60 and a beta of 0.17. The business’s 50-day simple moving average is $14.33 and its 200 day simple moving average is $15.49.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in United States Natural Gas Fund in the 3rd quarter worth $6,482,000. Hobbs Group Advisors LLC bought a new stake in shares of United States Natural Gas Fund in the third quarter worth about $29,000. MML Investors Services LLC purchased a new position in United States Natural Gas Fund during the 3rd quarter valued at about $712,000. Quadrature Capital Ltd bought a new position in United States Natural Gas Fund during the 3rd quarter valued at approximately $6,751,000. Finally, IHT Wealth Management LLC lifted its holdings in United States Natural Gas Fund by 207.9% in the 3rd quarter. IHT Wealth Management LLC now owns 31,025 shares of the exchange traded fund’s stock worth $507,000 after buying an additional 20,949 shares during the period.

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.