BLBG:U.S. Natural Gas Fund Premium at 0.43% on Sept. 29
The U.S. Natural Gas Fund, the largest exchange-traded fund in the fuel, closed at a premium of 0.43 percent on Sept. 29, 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 November delivery fell 5.2 cents, or 1.4 percent, to $3.747 per million British thermal units on the New York Mercantile Exchange on Sept. 29.
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Sept. 29 Sept. 28 Sept. 27 Sept. 26 Sept. 23 Sept. 22
2011 2011 2011 2011 2011 2011
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----------------------Per Share----------------------
Premium/discount 0.43% -0.32% -0.11% 0.11% 0.00% 0.22%
Net Asset Value $9.20 $9.32 $9.51 $9.44 $9.24 $9.28
Closing price $9.24 $9.29 $9.50 $9.45 $9.24 $9.30
----------------Quantity of Fund Holdings-------------
NYMEX NG Nov. 2011 4,180 4,180 4,651 4,651 5,314 5,314
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Sept. 29 Sept. 28 Sept. 27 Sept. 26 Sept. 23 Sept. 22
2011 2011 2011 2011 2011 2011
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NYMEX NN Nov. 2011 17,950 17,950 17,950 17,950 17,950 17,950
ICE LOT Swap Nov. 2011 48,383 48,383 48,383 48,383 48,383 48,383
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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
