Meanwhile, energy producers, like Range Resources Corp. (NYSE: RRC) and Chesapeake ENergy Corp. (NYSE: CHK), have cut their forecast for the year, citing a broad collapse in energy prices for oil and other similar liquid fuels.
The First Trust ISE-Revere Natural Gas Index Fund (NYSEArca: FCG), which is comprised of natural gas exploration and production companies, includes a 3.1% tilt toward CHK and 4.1% in RRC. FCG is still stuck in a downtrend, falling 1.7% over the past week and declining 8.9% year-to-date. Natural gas producers typically lag behind any rally in the commodities market.
United States Natural Gas Fund
For more information on the natgas market, visit our natural gas category.
Max Chen contributed to this article.