United States Natural Gas Fund LP (NYSEARCA:UNG – Get Free Report) was the target of some unusual options trading on Tuesday. Stock traders purchased 81,975 call options on the stock. This is an increase of approximately 203% compared to the typical volume of 27,051 call options.
Institutional Investors Weigh In On United States Natural Gas Fund
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC purchased a new position in United States Natural Gas Fund during the fourth quarter valued at approximately $25,000. Compass Financial Management LLC bought a new stake in United States Natural Gas Fund during the second quarter valued at about $26,000. Fifth Third Bancorp purchased a new position in shares of United States Natural Gas Fund in the first quarter valued at about $37,000. Main Street Group LTD bought a new position in shares of United States Natural Gas Fund in the first quarter worth about $42,000. Finally, Comerica Bank grew its position in shares of United States Natural Gas Fund by 1,412.9% during the first quarter. Comerica Bank now owns 2,693 shares of the exchange traded fund’s stock worth $58,000 after purchasing an additional 2,515 shares in the last quarter.
United States Natural Gas Fund Stock Performance
Shares of NYSEARCA UNG traded down $0.10 during trading on Tuesday, hitting $10.05. The company had a trading volume of 6,175,084 shares, compared to its average volume of 12,325,273. The stock has a 50 day simple moving average of $10.68 and a 200 day simple moving average of $11.26. United States Natural Gas Fund has a 12 month low of $9.55 and a 12 month high of $17.02. The firm has a market capitalization of $469.70 million, a P/E ratio of -15.04 and a beta of 0.06.
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.
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