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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022 using the fair value hierarchy:

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​

​

​

​

​

​

​

​

​

​

​

​

​

At March 31, 2022

Total

Level I

Level II

Level III

Short-Term Investments

​

$

303,000,000

​

$

303,000,000

​

$

—

​

$

—

Exchange-Traded Futures Contracts

​

​

​

​

United States Contracts

​

54,076,930

​

54,076,930

​

—

​

—

​

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

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​

​

​

​

​

​

​

​

​

​

​

​

​

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

​

—

​

—

Schedule of fair value of derivative instruments

Fair Value of Derivative Instruments

​

​	​	​	​	​	​	​	​	​
​		Condensed		​	​		​	​
​	​	Statements of	​	​	​	​	​	​
​	​	Financial	​	​	​	​	Fair Value at
​	​	Condition	​	Fair Value at		​	December 31,
Derivatives not Accounted for as Hedging Instruments	​	Location	​	March 31, 2022		​	2021
Futures - Commodity Contracts		Assets	​	$	54,076,930	​	$	1,362,413

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

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​

​

​

​

March 31, 2022

​

​

March 31, 2021

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​

​

​

​

Change in

​

​

Change in

​

​

Location of

​

Realized

​

Unrealized

​

Realized

​

Unrealized

​

​

​

Gain (Loss)

​

gain (Loss)

​

Gain (Loss) on

​

Gain (Loss)

​

Gain (Loss) on

​

Derivatives not

​

on Derivatives

​

on Derivatives

​

Derivatives

​

in Derivatives

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Derivatives

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Accounted for as

​

Recognized in

​

Recognized in

​

Recognized in

​

Recognized in

​

Recognized in

​

Hedging Instruments

​

Income

​

Income

​

Income

​

Income

​

Income

​

Futures - Commodity Contracts

​

Realized gain (loss) on closed positions

​

$

158,130,640

​

​

​

$

8,956,980

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​

​

​

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​

​

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Change in unrealized gain (loss) on open positions

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​

​

​

$

52,714,517

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​

​

​

$

20,781,089

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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.

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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.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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