United States Natural Gas Fund (NYSEARCA:UNG) Shares Gap Down to $8.34

United States Natural Gas Fund LP (NYSEARCA:UNG – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $8.34, but opened at $7.97. United States Natural Gas Fund shares last traded at $7.90, with a volume of 2,763,317 shares trading hands.

United States Natural Gas Fund Stock Performance

The company has a 50-day moving average of $9.20 and a two-hundred day moving average of $17.09.

Institutional Investors Weigh In On United States Natural Gas Fund

Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in United States Natural Gas Fund by 138.0% in the first quarter. JPMorgan Chase & Co. now owns 43,799 shares of the exchange traded fund’s stock worth $864,000 after acquiring an additional 25,395 shares in the last quarter. NewEdge Advisors LLC bought a new stake in United States Natural Gas Fund in the first quarter worth $2,443,000. Flow Traders U.S. LLC boosted its holdings in United States Natural Gas Fund by 14.8% in the first quarter. Flow Traders U.S. LLC now owns 38,666 shares of the exchange traded fund’s stock worth $762,000 after acquiring an additional 4,987 shares in the last quarter. Royal Bank of Canada boosted its holdings in United States Natural Gas Fund by 525.4% in the first quarter. Royal Bank of Canada now owns 134,892 shares of the exchange traded fund’s stock worth $2,659,000 after acquiring an additional 113,324 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in United States Natural Gas Fund in the first quarter worth $11,345,000.

United States Natural Gas Fund Company Profile

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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.