Rochester,NY 7/5/2009 2:08:07 AM
Weekend Report - UNG - Hit the gas Exchange-traded fund geared to hedge higher fuel prices- Sourced WhisperFromWallStreet.com
United States Natural Gas
Weekend Report - UNG - Hit the gas
Exchange-traded fund geared to hedge higher fuel prices- Sourced WhisperFromWallStreet.com
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United States Natural Gas,UNG
Market Update: 13.10 Down -0.01 (-0.08%) 7:59pm ET
Families who pack up the car this Fourth of July weekend will spend much less on gasoline than last year -- prices are down by more than a third from last summer. But when it comes to fueling your investment portfolio, a specialized exchange-traded fund may hedge against unwelcome oil-price spikes.
United States Gasoline Fund /quotes/comstock/13*!uga/quotes/nls/uga (UGA 30.76, -0.01, -0.03%) is designed to track the movement of gas prices, but investors should be aware of its caveats and risks.
Energy prices collapsed in 2008 after peaking last summer, and demand for gas and oil is expected to stay weak as a result of the global economic downturn. Oil prices fell last week after a report on Thursday showed the U.S. economy lost more jobs than expected in June as the unemployment rate rose to 9.5%.
Moody's Investors Service said its outlook for the global integrated oil industry is negative: "The economic recovery in 2010 is expected to be slow and painful, crimping worldwide demand for oil and natural gas at a time when inventories are near record highs."
Gasoline prices are notoriously volatile and dependent on a number of factors, including the price of oil, seasonal trends and refining capacity. Vanguard Group founder John Bogle has said that letting performance-chasing investors speculate in narrowly focused ETFs is like handing an arsonist a match. Adding gasoline to the mix, literally, may heighten the dangers of individual investors trying to time the market with ETFs. Read about investing in 'green' energy.
About
United States Natural Gas Fund, LP (USNG) is a limited partnership. The Company is a commodity pool that issues units that may be purchased and sold on the NYSE Arca, Inc. (the NYSE Arca). The investment objective of USNG is for the changes in percentage terms of its net asset value to reflect the changes in percentage terms of the price of natural gas delivered at the Henry Hub, Louisiana, as measured by the changes in the price of the futures contract on natural gas as traded on the New York Mercantile Exchange (the NYMEX) that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case the futures contract will be the next month contract to expire. The Company’s general partner is United States Commodity Funds LLC (the General Partner) and is responsible for the management of USNG.
Last Trade: 13.11
Day's Range: 12.98 - 13.67
52wk Range: 12.69 - 63.33
Volume: 63,370,644
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