The United States Natural Gas Fund (NYSEArca: UNG), one of the most heavily traded natural gas exchange traded products, is up about 6% over the past week, but underscoring how poorly the commodity is performing 2017, UNG is still saddled with a year-to-date loss of more than 28%.
With that in mind, it might be logical to assume finding traders willing to endorse the flailing commodity is difficult, but some have recently turned bullish on natural gas.
“Bill Perkins of energy hedge fund Skylar Capital says the natural gas market could soon rev up,” reports CNBC. “With American exports of natural gas on the rise, while infrastructure ‘isn’t coming on fast enough,’ Perkins makes the point that ‘we actually have a very tight market now.’”
Futures-related natural gas exchange traded products are not the only natural gas securities that have been punished this year. With the energy sector ranking as the worst-performing group in the S&P 500 this year, the First Trust Natural Gas ETF (NYSEArca: FCG), which is comprised of natural gas exploration and production companies, is lower by 25%.