United States Natural Gas Fund (NYSEARCA:UNG) Trading 4.6% Higher – Time to Buy?

United States Natural Gas Fund LP (NYSEARCA:UNG)’s stock price was up 4.6% during trading on Wednesday . The stock traded as high as $16.79 and last traded at $16.72. Approximately 1,788,864 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 13,046,275 shares. The stock had previously closed at $15.99.

United States Natural Gas Fund Trading Up 5.8 %

The company has a market cap of $974.86 million, a price-to-earnings ratio of -11.60 and a beta of 0.17. The business’s 50 day moving average price is $14.46 and its 200-day moving average price is $14.63.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UNG. Virtu Financial LLC bought a new stake in United States Natural Gas Fund during the third quarter worth about $6,482,000. Hobbs Group Advisors LLC acquired a new stake in shares of United States Natural Gas Fund during the 3rd quarter worth approximately $29,000. MML Investors Services LLC bought a new position in United States Natural Gas Fund in the third quarter valued at approximately $712,000. Quadrature Capital Ltd acquired a new position in shares of United States Natural Gas Fund during the 3rd quarter worth $6,751,000. Finally, IHT Wealth Management LLC boosted its stake in United States Natural Gas Fund by 207.9% in the third quarter. IHT Wealth Management LLC now owns 31,025 shares of the exchange traded fund’s stock valued at $507,000 after buying an additional 20,949 shares in the last quarter.

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.