---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-129958"
form_type: "8-K"
ticker: "UNG"
cik: "0001376227"
company_name: "United States Natural Gas Fund, LP"
filed_at: "2023-12-28T23:59:59+00:00"
generated_at: "2026-06-07T06:16:48.432561+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# UNG reports net loss of $292.8M for November 2023; NAV per share drops to $5.52

## Summary
- Net loss of $292,777,117 for the month ended November 30, 2023, driven by $125.3M unrealized loss on commodity futures.
- Total income (loss) of $(291,986,931) vs. $436,229 dividend income and $3.3M interest income.
- Net asset value per share decreased to $5.52 (182.2M shares) from prior month; beginning NAV was $1.048B.
- Share activity: 63.9M shares added ($396.9M) and 22.7M shares withdrawn ($147.2M) during the month.
- Realized trading loss on futures of $79.2M and realized loss on swaps of $63.2M contributed to the decline.

## SEC filing metadata
- accession: 0001104659-23-129958
- form_type: 8-K
- ticker: UNG
- cik: 0001376227
- company_name: United States Natural Gas Fund, LP
- filed_at: 2023-12-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1376227/000110465923129958/0001104659-23-129958-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1376227/000110465923129958/tm2332808d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-129958
- JSON: https://secwatch.observer/filing/0001104659-23-129958.json
- Plain text: https://secwatch.observer/filing/0001104659-23-129958.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.