United States Natural Gas Fund (NYSEARCA:UNG) Stock Price Passes Above 200-Day Moving Average – Here’s Why

United States Natural Gas Fund LP (NYSEARCA:UNG)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.80 and traded as high as $11.85. United States Natural Gas Fund shares last traded at $11.60, with a volume of 5,938,160 shares changing hands.

United States Natural Gas Fund Price Performance

The stock has a market cap of $411.22 million, a PE ratio of -15.04 and a beta of 0.06. The stock has a 50-day simple moving average of $11.36 and a 200-day simple moving average of $11.80.

Institutional Trading of United States Natural Gas Fund

Institutional investors have recently modified their holdings of the company. Jump Financial LLC acquired a new position in United States Natural Gas Fund during the third quarter valued at approximately $7,376,000. Arkadios Wealth Advisors acquired a new stake in shares of United States Natural Gas Fund in the fourth quarter worth $6,451,000. Virtu Financial LLC purchased a new position in shares of United States Natural Gas Fund in the 3rd quarter valued at $5,004,000. Flow Traders U.S. LLC purchased a new position in shares of United States Natural Gas Fund in the 3rd quarter valued at $4,665,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of United States Natural Gas Fund by 258.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 220,620 shares of the exchange traded fund’s stock valued at $2,884,000 after acquiring an additional 159,117 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.