United States Natural Gas Fund LP (UNG) $36.34 -8.07%
The US Natural Gas Fund (UNG) is seeing double its normal trading volume, as bearish weekly data sent natural gas prices sharply lower in midday trade Thursday. Weekly natural gas inventory data showed a larger than expected build of 102 Bcf in the week ended August 22. Analysts were looking for a build of 84 bcf. Natural gas is trading down 69 cents to $7.92 on the news. UNG, which is an exchange-traded fund that holds natural gas futures and forward contracts, is off $3.08 to $36.45. Trading in the options market is brisk, with 32,000 UNG calls and 12,000 puts trading on the day.
Category: All ETFs
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About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
