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Natural gas prices have rallied in 2024, leading to increased production and potential oversupply.
The opening of the Matterhorn Express Pipeline may further decrease Henry Hub prices, impacting natural gas producers.
FCG ETF, which includes natural gas producers, MLP companies, and oil enterprises, is now a 'Hold' due to changing market dynamics.
Thesis
Back in December 2023 we wrote an article arguing why it was a good time to buy the First Trust Natural Gas ETF (FCG) given the historic low levels in natural gas prices. The fund has delivered an outstanding return since: