United States Natural Gas Fund, LP (NYSE Arca: UNG) has furnished its monthly account statement for the month ended August 31, 2024, which includes the Statement of Income (Loss) and a Statement of Changes in Net Asset Value. This information, required by Rule 4.22 under the Commodity Exchange Act, was disclosed in a Form 8-K filed with the Securities and Exchange Commission today.
The monthly account statement indicates the financial performance and changes in the net asset value of the fund over the past month. The exact figures and detailed financial information were included in Exhibit 99.1 of the 8-K filing and are also available on the fund's website.
It is important to note that the information provided in the 8-K filing and the accompanying exhibit is not considered "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, and it is not subject to the liabilities of that section. Additionally, the furnished data should not be deemed incorporated by reference in any filing under the Securities Act of 1933, unless explicitly referenced in such a filing.
The United States Natural Gas Fund, LP is managed by United States Commodity Funds LLC, which ensures compliance with the necessary regulatory requirements. The chief financial officer, Stuart P. Crumbaugh, signed the report on behalf of the fund's general partner.
In other recent news, the United States Natural Gas Fund has reported its monthly financials for July, revealing income, losses, and changes in net asset value. This financial disclosure is part of the company's regular reporting obligations, providing investors with a transparent view of its performance. In a significant development, the fund has also signed a derivatives agreement with ScotiaBank under the International Swaps and Derivatives Association, Inc. (ISDA) 2002 Master Agreement, enabling the fund to engage in over-the-counter (OTC) swaps.
These are recent developments that provide investors with an overview of the United States Natural Gas Fund's operations. KeyBanc Capital Markets and ING have released analyst notes, with KeyBanc adjusting its commodity price outlook for 2024 and 2025 and reducing its natural gas price forecast. ING analysts have brought attention to potential global economic risks associated with the strategic Strait of Hormuz, a crucial conduit for the world's oil supply.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on the United States Natural Gas Fund, LP (UNG) performance. Despite the fund's recent filing of its monthly account statement, investors should be aware of some key metrics. UNG has shown a strong return over the last month, with a 22.44% price total return. This short-term performance is particularly noteworthy given the fund's longer-term challenges.
InvestingPro Tips highlight that UNG's price has performed poorly over the last decade and has fallen significantly over the last five years. This long-term trend contrasts sharply with the recent monthly gain, suggesting potential volatility in the natural gas market.
It's also worth noting that UNG is not profitable over the last twelve months, with a revenue of -$315.64 million USD for the last twelve months as of Q2 2024. The fund's market capitalization stands at $1000 million USD, reflecting its significant presence in the commodity ETF space despite recent challenges.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 7 additional InvestingPro Tips available for UNG, which could provide valuable context for interpreting the fund's monthly account statements and overall performance trends.
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