Natural Gas ETF (UNG) Hits New 52-Week High
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United States Natural Gas ETF UNG is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 95.5% from its 52-week low price of $12.35/share.Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.UNG in FocusThe underlying Natural Gas Price Index is the futures contract on natural gas as traded on the NYMEX. The product charges 101 bps in annual fees.Why the Move?U.S. natural gas futures surged lately, thanks to record LNG export flows and stronger demand projections. LNG exports have increased at the start of March, following a new record of 15.6 bcfd in February, supported by additional capacity at Venture Global’s Plaquemines plant.More Gains Ahead?The ETF UNG might continue its strong performance in the near term, with a positive weighted alpha of 64.73, which gives cues of a further rally.Want key ETF info delivered straight to your inbox?Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Natural Gas ETF (UNG): ETF Research ReportsThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks
Quelle: Zacks