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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2021
FAIR VALUE OF FINANCIAL INSTRUMENTS  
Schedule of valuation of UNG's securities using the fair value hierarchy

The following table summarizes the valuation of UNG’s securities at December 31, 2021 using the fair value hierarchy:

At December 31, 2021

    

Total

    

Level I

    

Level II

    

Level III

Short-Term Investments

$

243,443,000

$

243,443,000

$

$

Exchange-Traded Futures Contracts

 

  

 

  

 

  

 

  

United States Contracts

 

1,362,413

 

1,362,413

 

 

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

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 fair value of derivative instruments

Fair Value of Derivative Instruments

Statements of

    

Financial

    

Fair Value

    

Fair Value

Condition

at December 31,

at December 31,

Derivatives not Accounted for as Hedging Instruments

Location

2021

2020

Futures - Commodity Contracts

Assets

$

1,362,413

$

(14,454,899)

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

The Effect of Derivative Instruments on the Statements of Operations

For the year ended

For the year ended

For the year ended

December 31, 2021

December 31, 2020

December 31, 2019

    

    

    

Change in

    

    

Change in

    

    

Change in

Location of

Realized

Unrealized

Realized

Unrealized

Realized

Unrealized

Gain (Loss)

Gain (Loss)

Gain (Loss) on

Gain (Loss)

Gain (Loss) on

Gain (Loss)

Gain (Loss) on

Derivatives not

on Derivatives

on Derivatives

Derivatives

on Derivatives

Derivatives

on Derivatives

Derivatives

Accounted for as

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Recognized in

Hedging Instruments

Income

Income

Income

Income

Income

Income

Income

Futures - Commodity Contracts

Realized gain (loss) on closed positions

$

6,104,950

 

  

$

(206,518,620)

 

  

$

(126,561,127)

 

  

Change in unrealized gain (loss) on open positions

$

15,817,312

$

6,313,791

$

46,252,567