United States Natural Gas Fund (NYSEARCA:UNG) Trading Up 5.6%

United States Natural Gas Fund LP (NYSEARCA:UNG – Get Rating) shares were up 5.6% during mid-day trading on Friday . The stock traded as high as $6.83 and last traded at $6.75. Approximately 16,473,504 shares were traded during trading, a decline of 30% from the average daily volume of 23,412,229 shares. The stock had previously closed at $6.39.

United States Natural Gas Fund Stock Performance

The company has a 50 day moving average of $7.13 and a 200-day moving average of $12.05.

Hedge Funds Weigh In On United States Natural Gas Fund

Several large investors have recently added to or reduced their stakes in UNG. Shah Capital Management bought a new stake in United States Natural Gas Fund in the first quarter valued at $9,750,000. BNP Paribas Arbitrage SNC lifted its stake 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 valued at $7,311,000 after buying an additional 1,013,413 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of United States Natural Gas Fund by 586.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,035,248 shares of the exchange traded fund’s stock valued at $14,597,000 after purchasing an additional 884,538 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of United States Natural Gas Fund during the first quarter valued at about $11,345,000. Finally, Nwam LLC bought a new stake in shares of United States Natural Gas Fund during the first quarter valued at about $2,658,000.

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.