Traders have also been increasingly bullish on natural gas-related equities. Although some of the largest U.S. oil companies, such as Exxon Mobil (NYSE: XOM) and Chevron (NYSE: CVX), are also among this country’s largest gas producers, the First Trust ISE-Revere Natural Gas Index Fund (NYSEArca: FCG) is the top-performing non-leveraged sector ETF over the past month.

Up 11.5% since March 21, FCG is trading at its highest levels in nearly three years, enjoying a renaissance of sorts along with natural gas futures and other equity-based energy ETFs. Investors are noticing. When we profiled the ETF on April 11, FCG had just over $458 million in assets under management. The fund now has nearly $500 million in AUM. [Equity Nat Gas ETF Finally Rising]

Exxon Mobil, the largest U.S. natural gas producer, is not found among FCG’s 30 holdings while Chesapeake Energy (NYSE: CHK), the second-largest U.S. gas producer, is just 3.4% of the fund’s weight.

United States Natural Gas Fund