United States Natural Gas Fund (NYSEARCA:UNG) Trading 5% Higher – Still a Buy?

United States Natural Gas Fund LP (NYSEARCA:UNG) was up 5% on Thursday . The company traded as high as $15.30 and last traded at $15.27. Approximately 7,509,762 shares changed hands during trading, an increase of 4% from the average daily volume of 7,251,364 shares. The stock had previously closed at $14.54.

United States Natural Gas Fund Price Performance

The company has a 50 day simple moving average of $13.78 and a 200-day simple moving average of $15.00. The firm has a market cap of $888.96 million, a PE ratio of -11.60 and a beta of 0.17.

Hedge Funds Weigh In On United States Natural Gas Fund

Several institutional investors and hedge funds have recently made changes to their positions in UNG. Hobbs Group Advisors LLC purchased a new stake in United States Natural Gas Fund during the third quarter valued at about $29,000. International Assets Investment Management LLC purchased a new stake in United States Natural Gas Fund during the 2nd quarter valued at about $50,000. Freedom Investment Management Inc. bought a new position in United States Natural Gas Fund during the 3rd quarter worth approximately $164,000. J.W. Cole Advisors Inc. bought a new stake in United States Natural Gas Fund in the second quarter valued at approximately $184,000. Finally, Hourglass Capital LLC purchased a new stake in shares of United States Natural Gas Fund during the third quarter valued at approximately $204,000.

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.