Over 110 exchange traded products hit all-time lows Tuesday and, at this point, it probably isn't surprising that the First Trust ISE-Revere Natural Gas Index Fund (NYSE: FCG) was one of those offenders.
On volume that was nearly 64 percent above the trailing 90-day average, FCG lost 8.6 percent, a loss that was exceeded by just three other ETFs on a percentage basis. Stripping out leveraged ETFs, FCG was Tuesday's worst-performing ETF on a percentage basis.
As has been previously noted in this space, some of FCG's 30 holdings are facing credit and liquidity issues. Tumbling oil prices drained the financial positions of an array of mid- and small-cap shale producers, prompting scores of credit downgrades and sparking concerns over a spate of defaults. Lenders to some of the companies found in FCG are ...
/www.benzinga.com/trading-ideas/long-ideas/16/01/6153986/things-are-getting-worse-for-this-natural-gas-etf alt=Things Are Getting Worse For This Natural Gas ETF>Full story available on Benzinga.com
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