other material
confidence high
sentiment negative
materiality 0.55
UNG posts $92M net loss for March; NAV falls to $14.74 per share
United States Natural Gas Fund, LP
- Net loss of $92.2M for month ended March 31, 2024, driven by $97.9M unrealized loss on commodity futures.
- Total income (loss) of ($91.3M) included $12.1M realized trading gain offset by $8.9M loss on swaps.
- Net asset value dropped from $868.7M to $830.5M; NAV per share $14.74 on 56.3M shares.
- Fund added 8.3M shares ($124.4M) and withdrew 4.2M shares ($70.4M) during the month.
- Expenses totaled $911k, with $409k in management fees and $276k in brokerage commissions.