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home / news releases / GASX - Natural Gas Storage Forecast: Bearish Outlook But EOS Storage Index Is Within Market Expectations


GASX - Natural Gas Storage Forecast: Bearish Outlook But EOS Storage Index Is Within Market Expectations

TRADING POSITIONS

We have slightly reduced our short exposure earlier today, but we are not adding any new long positions (just yet). So far, the return on invested capital in May has been 4.70% in futures and 6.0% in ETNs (see the tables below).

THE WEATHER

Last week, the number of heating degree-days (HDDs) plunged 37%, as weather conditions warmed up across the country. However, heating demand was still up y-o-y. We estimate that total energy demand (as measured in total degree-days – TDDs) was approximately 11.0% above last year’s level.

This week, the weather

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Stock Information

Company Name: Direxion Daily Natural Gas Related Bear 3x Shares Direxion Shares ETF Trust
Stock Symbol: GASX
Market: NYSE

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