“Producers are likely to have 3.9 trillion cubic feet in storage before November, and the 2.4 trillion cubic feet they’re likely to add to stockpiles this year would be the second-highest addition on record, the U.S. Energy Information Administration said Tuesday,” according to the Journal.
Equity-based natural gas ETFs have not participated in the commodity’s upside. Over the past month, the First Trust ISE-Revere Natural Gas Index Fund (NYSEArca: FCG), which is comprised of natural gas exploration and production companies, is off more than 8%. FCG’s triple-leveraged equivalent, the Direxion Daily Natural Gas Related Bull 3X (NYSEArca: GASL) is off more than 24% over that time. GASL will be reverse split 1-for-10 after the close of markets on May 19.
United States Natural Gas Fund
ETF Trends editorial team contributed to this post.