The iPath Series B Bloomberg Natural Gas Subindex Total Return ETN GAZ is probably a suitable pick for investors looking for momentum. GAZ has hit a 52-week high and is up 178.5% from its 52-week low price of $15.95/share.
Let’s take a look at GAZ and its near-term outlook to gauge where it might be headed.
GAZ in Focus
The iPath Bloomberg Natural Gas Subindex Total Return ETNs were designed to provide exposure to the Bloomberg Natural Gas Subindex Total Return. It has AUM of $27 million and charges an expense ratio of 45 basis points.
Why the Move?
Natural gas futures recently spiked to a fresh 13-year high on tight supply, adverse weather conditions and declining inventories. With this, natural gas is up about 65% so far in 2022. The surge in prices has largely been contributed by the conflict between Russia and Ukraine that has sparked fears of global supply disruption in an already tight-supply market. Sanctions by the United States and other countries may force Russia to supply less natural gas, thereby pushing prices higher. This is making funds like GAZ an impressive investment option.
More Gains Ahead?
It seems like the iPath Series B Bloomberg Natural Gas Subindex Total Return ETN will remain strong, with a positive weighted alpha of 180.40, which gives cues of a further rally.
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iPath Series B Bloomberg Natural Gas Subindex Total Return ETN (GAZ): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
