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For buyers on the lookout for momentum, United States Pure Fuel Fund LP UNG might be an appropriate decide. The fund simply hit a 52-week excessive and is up 112.7% from its 52-week low value of $8.22/share.
Let’s check out the fund and its near-term outlook to realize an perception into the place it may be headed:
UNG in Focus
The fund is an exchange-traded safety that’s designed to trace in share phrases the actions of pure gasoline costs. UNG points shares that could be bought and offered on the NYSE Arca. It has AUM of $274.4 million and expenses 1.35% foundation factors in annual charges.
Why the Transfer?
The chilly wave from Arctic area accelerates electrical energy demand throughout america, placing deal with pure gasoline. Contemplating the situation, forecasts of colder-than-expected temperatures in america are anticipated to drive pure gasoline costs. U.S. pure gasoline futures have now risen to a seven-year excessive as a consequence of provide crunch heading into the winter-heating season. These elements are making funds like UNG extra engaging.
Extra Positive factors Forward?
It looks like the fund will stay sturdy, with a positive weighted alpha of 71.05, which supplies cues of additional rally.
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United States Natural Gas ETF (UNG): ETF Research Reports
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