Natural Gas ETF (UNG) Weighs Options
The U.S. Natural Gas Fund (UNG), which has been dominating news headlines since running out of shares, is exploring ways to avoid regulators’ crackdown on speculation. According to the Wall Street Journal, “the fund is considering moving to offshore energy exchanges or further into unpoliced over-the-counter swaps markets to avoid Commodity Futures Trading Commission rules that would limit the size of its natural-gas positions.” The fund already has about 5% of its assets in swaps, in which the fund enters an agreement with a counterparty that yields a return in line with natural gas prices. Other options they are looking at to keep its holdings within regulatory limits, are investments in other energy markets such as crude oil, heating oil or gasoline.
For the full WSJ story click: HERE
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