United States Natural Gas Fund (NYSEARCA:UNG) Shares Down 3%

United States Natural Gas Fund LP (NYSEARCA:UNG) dropped 3% during mid-day trading on Wednesday . The company traded as low as $14.04 and last traded at $14.04. Approximately 1,179,216 shares traded hands during trading, a decline of 85% from the average daily volume of 7,631,557 shares. The stock had previously closed at $14.48.

United States Natural Gas Fund Price Performance

The firm has a market cap of $775.08 million, a P/E ratio of -11.91 and a beta of 0.16. The firm’s 50 day moving average is $15.48 and its 200 day moving average is $20.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SNC raised its holdings in United States Natural Gas Fund by 2,532.1% in the first quarter. BNP Paribas Arbitrage SNC now owns 1,053,436 shares of the exchange traded fund’s stock worth $7,311,000 after buying an additional 1,013,413 shares during the last quarter. Wells Fargo & Company MN raised its holdings in United States Natural Gas Fund by 586.9% in the 4th quarter. Wells Fargo & Company MN now owns 1,035,248 shares of the exchange traded fund’s stock worth $14,597,000 after acquiring an additional 884,538 shares during the last quarter. National Bank of Canada FI lifted its position in United States Natural Gas Fund by 3,090.3% in the 3rd quarter. National Bank of Canada FI now owns 793,629 shares of the exchange traded fund’s stock valued at $5,260,000 after acquiring an additional 768,753 shares in the last quarter. GTS Securities LLC bought a new position in United States Natural Gas Fund in the 2nd quarter valued at approximately $4,661,000. Finally, Virtu Financial LLC purchased a new stake in United States Natural Gas Fund during the 1st quarter valued at $11,345,000.

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.