UNG - Natural Gas Fund to Suspend Offering New Units

United States Natural Gas Fund, the world’s largest exchange traded fund in the fuel, said it will suspend offering new units after winning federal approval to issue up to 1 billion new shares. The approval will come today from the Securities and Exchange Commission in Washington, the fund said in regulatory filing. “Our attorneys have told us the prospect us has become effective this morning,” John Hyland, chief investment officer of the Alameda, California-based fund, said in a telephone interview. The fund said it will suspend offering “creation baskets,” which are blocks of 100,000 units, because of proposed regulatory.....Complete Story