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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2021

FAIR VALUE OF FINANCIAL INSTRUMENTS

Schedule of valuation of UNG's securities using the fair value hierarchy

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​

​

​

​

​

​

​

​

​

​

​

​

​

At March 31, 2021

Total

Level I

Level II

Level III

Short-Term Investments

​

$

244,041,077

​

$

244,041,077

​

$

—

​

$

—

Exchange-Traded Futures Contracts

​

​

​

​

United States Contracts

​

6,326,190

​

6,326,190

​

—

​

—

​

The following table summarizes the valuation of UNG's securities at December 31, 2020 using the fair value hierarchy:

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​

​

​

​

​

​

​

​

​

​

​

​

​

At December 31, 2020

Total

Level I

Level II

Level III

Short-Term Investments

​

$

21,143,000

​

$

21,143,000

​

$

—

​

$

—

Exchange-Traded Futures Contracts

​

​

​

​

United States Contracts

​

(14,454,899)

​

(14,454,899)

​

—

​

—

​

Schedule of effect of derivative instruments on the condensed statements of operations

The Effect of Derivative Instruments on the Condensed Statements of Operations

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​

​

​

​

​

​

​

​

​

​

For the three months ended

​

For the three months ended

​

​

​

​

March 31, 2021

​

March 31, 2020

​

​

​

​

​

​

​

Change in

​

​

​

​

Change in

​

​

Location of

​

Realized

​

Unrealized

​

Realized

​

Unrealized

Derivatives not

​

Gain (Loss)

​

gain (Loss)

​

Gain (Loss)

​

Gain (Loss)

​

Gain (Loss)

Accounted for

​

on Derivatives

​

on Derivatives

​

on Derivatives

​

in Derivatives

​

on Derivatives

as Hedging

​

Recognized in

​

Recognized in

​

Recognized in

​

Recognized in

​

Recognized in

Instruments

Income

Income

Income

Income

Income

Futures - Commodity Contracts

Realized gain (loss) on closed positions

​

$

8,956,980

​

​

​

$

(124,698,620)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Change in unrealized gain (loss) on open positions

​

​

​

​

$

20,781,089

​

​

​

​

$

(8,450,660)

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- References

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The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI http://asc.fasb.org/topic&trid=2155941

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
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