The U.S. Natural Gas Fund, the largest exchange-traded fund in the fuel, closed at a premium of 0.32 percent on Dec. 6, according to figures on the fund’s website. A premium means that the closing price of the shares is higher than the value of its underlying holdings in the fuel.
Natural gas for January delivery rose 13.9 cents, or 3.2 percent, to $4.488 per million British thermal units on the New York Mercantile Exchange on Dec. 6.
================================================================================ Dec. 6 Dec. 3 Dec. 2 Dec. 1 Nov. 30 2010 2010 2010 2010 2010 ================================================================================ -----------------------Per Share----------------------- Premium/discount 0.32% -0.50% -0.34% 0.51% 0.70% Net Asset Value $6.17 $5.97 $5.97 $5.86 $5.74 Closing price $6.19 $5.94 $5.95 $5.89 $5.78 ----------------Quantity of Fund Holdings-------------- NYMEX NG Jan. 2011 18,498 18,498 18,182 18,182 17,508 NYMEX NN Jan. 2011 22,520 22,520 22,520 22,520 22,520 ICE LOT Swap Jan. 2011 55,915 55,915 55,915 55,915 55,915 ---------------Market Value (Millions)------------------ Total return swaps $1,118.6 $1,083.9 $1,082.5 $1,064.0 $1,041.8 ================================================================================
NOTE: To sidestep position limits imposed by the Commodity Futures Trading Commission, the fund buys bilateral, over-the-counter swaps that are not subject to exchange limits. These swaps are fully collateralized with investment grade counterparties.
The fund aims to track the price of natural gas delivered at Henry Hub in Erath, Louisiana, the delivery point for the future traded on the New York Mercantile Exchange. The ETF buys the near-month contract, then rolls forward by selling it before expiration and buying the following month.
SOURCE: United States Natural Gas Fund
To contact the reporter on this story: Daniel Petrie in Sydney at dpetrie5@bloomberg.net
To contact the editor responsible for this story: Alex Tanzi at atanzi@bloomberg.net
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