This week we have seen a significant price spike in “long” natural gas related ETFs.

For instance, First Trust ISE Natural Gas (NYSEArca: FCG) has rallied nearly 10% this week alone on the heels of the announcement that BHP Billiton (NYSE: BHP) would purchase Petrohawk Energy (NYSE: HK). [Energy ETFs Jump on Petrohawk Deal]

Petrohawk currently makes up 4.08% of FCG’s portfolio and is the second largest holding, so this acquisition has created a tailwind in the sector.

Direxion Daily Natural Gas Related Bull 2X (NYSEArca: GASL) has returned over 16% this week after surging above its 50-day moving average line.

GASL can potentially be used for leveraged directional bets on the long side of the natural gas related equity space.

On the flipside, Direxion Daily Natural Gas Related Bear 2X (NYSEArca: GASX) is a daily leveraged product that would offer the investor exposure to the “bear” side of this trade, and may appeal to those that may believe the short-term runup in the sector is overdone.

Direxion Daily Natural Gas Related Bull 2X

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