First Trust ISE-Revere Natural Gas Index ETF
 (FCG)

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  • Dec. 14, 2015, 5:07 AM
    • U.S. natural gas prices have collapsed to their lowest level in almost 14 years, dropping 4.4% to $1.901 per million British thermal units, as unseasonally warm weather on the U.S east coast cuts demand for the fuel.
    • NYC is expected to see temperatures as high as 63 degrees on Monday, at a time of year when fleece-lined boots are more common attire than t-shirts.
    • Crude prices also started the week on the back foot. The cost per barrel has now fallen below $35.
    • Crude futures -2.3% to $34.79/bbl.
    • ETFs: UNG, UGAZ, DGAZ, BOIL, GAZ, FCG, GASL, KOLD, UNL, MLPG, DCNG, USO, OIL, UCO, UWTI, SCO, BNO, DBO, DWTI, DTO, USL, DNO, OLO, SZO, OLEM
    | Dec. 14, 2015, 5:07 AM | 23 Comments
  • Dec. 11, 2015, 4:15 PM
    | Dec. 11, 2015, 4:15 PM
  • Dec. 10, 2015, 5:02 PM
    | Dec. 10, 2015, 5:02 PM | 101 Comments
  • Dec. 8, 2015, 12:27 PM
    • Wholesale gas for January delivery has nosedived, dropping 6.3% just this week to just above $2/MMBtu, the lowest for any January-delivered futures contract in 17 years and sinking shares of the biggest gas producers.
    • The traditional pattern is for U.S. gas use to soar in January, as an exceptionally warm start to the cold weather season has undercut forecast gas consumption thanks to El Niño effects that have caused mild temperatures across big northern cities such as New York and Chicago.
    • Meanwhile, gas production from areas such as the Marcellus Shale of Pennsylvania and Utica Shale of Ohio has kept rising in spite of lower prices.
    • Chesapeake Energy (CHK +0.4%) has dropped 18% in the past week, Cabot Oil & Gas (COG +3.2%) has lost 9%, and EQT (EQT +0.3%) has slid 7%.
    • ETFs: UNG, UGAZ, DGAZ, BOIL, GAZ, FCG, GASL, KOLD, UNL, DCNG
    | Dec. 8, 2015, 12:27 PM | 32 Comments
  • Dec. 7, 2015, 10:35 AM
    • The energy sector (-4.5%) paces the opening decline, as WTI crude oil prices -4% at $38.35/bbl following a 2.7% slide on Friday after OPEC's failure to agree on a production target to reduce the oil glut.
    • Investors are betting on oil prices staying lower for even longer after OPEC's non-decision, pushing U.S. crude futures for delivery nearly 10 years away below $60/bbl, Reuters reports.
    • But the oil glut is set to continue as much because of the U.S. as of OPEC, as U.S. shale drillers have only trimmed their pumping a little, and rising oil flows from the Gulf of Mexico are propping up U.S. production; the overall output of U.S. crude fell just 0.2% in September, the most recent monthly federal data available, and is down less than 3%, to 9.3M bbl/day, from the peak in April.
    • Goldman Sachs says it expects oil prices to remain "lower for longer," with a risk that prices could fall as low as $20/bbl.
    • In early trading: XOM -2.9%, CVX -4.1%, BP -3.2%, RDS.A -4.2%, COP -4.6%, MPC -3.2%, MRO -7.4%, PSX -2.8%, HES -4.9%, APC -6.1%, OXY -3.1%, EOG -5.8%, DVN -9.3%, PXD -7.2%, APA -3.9%, CHK -8%, CLR -9.1%.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, BGR, USL, XES, IYE, IEO, IEZ, DNO, FENY, PXE, PXI, PXJ, FIF, OLO, SZO, NDP, RYE, FXN, OLEM, DDG
    | Dec. 7, 2015, 10:35 AM | 118 Comments
  • Dec. 4, 2015, 4:19 PM
    | Dec. 4, 2015, 4:19 PM
  • Dec. 4, 2015, 3:25 PM
    • U.S. crude oil settled 2.7% lower at $39.97 and Brent fell 1.9% to $43 after OPEC decided to roll over its policy of maintaining crude production in order to retain market share - a not unexpected outcome but one that offers no relief in sight for the oil industry's pain.
    • "OPEC not cutting is going to put more pressure on oil prices," and the pressure on companies’ spending will feed through into their investment in increasing their production, says Jefferies equity analyst Jason Gammel. “It’s not as though they’ll shut down existing production, but over time their output will decrease."
    • Don’t expect prices to stabilize until low prices force curtailments of pumping in the U.S., which will not happen until the end of next year, Goldman Sachs analyst Damien Courvalin.
    • Energy stocks (-0.7%) are the only S&P industry sector to decline, as the rest of the market has rebounded from yesterday's drop; some of the big oils - XOM +0.3%, CVX +0.6% - have inched higher, and refiners are mostly higher, but it's another down day for most: DVN -1.2%, CLR -5.9%, MRO -2.3%, HES -1%, COP -0.8%, EOG -0.7%, APC -2.4%, ETE -9.3%, ETP -3.5%, EPD -2.4%, WMB -6.9%.
    • ETFs: USO, OIL, XLE, UCO, UWTI, VDE, ERX, OIH, SCO, XOP, BNO, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, BGR, USL, XES, IYE, IEO, IEZ, DNO, FENY, PXE, PXI, PXJ, FIF, OLO, SZO, NDP, RYE, FXN, OLEM, DDG
    | Dec. 4, 2015, 3:25 PM | 150 Comments
  • Nov. 20, 2015, 4:13 PM
    | Nov. 20, 2015, 4:13 PM | 4 Comments
  • Nov. 20, 2015, 3:54 PM
    • U.S. natural gas in storage cracked the 4T cf level for the first time, according to the latest data from the Energy Information Administration, 10% higher than a year ago and nearly as much gas as the U.S. can store - a milestone that "should terrify energy investors," writes Heard On The Street's Spencer Jakab.
    • Inventories traditionally peak at the end of the April-October season when heating demand for the fuel is low or nonexistent, but despite subdued new drilling activity, the EIA thinks storage at the end of Q1 2016 will end with a far higher than usual 1.9T cf, which creates a risk of storage filling up even sooner in next year's April-October period.
    • Jakab says the situation will add to the woes among beleaguered natural gas producers, some of which are in financial distress - which could grow more acute; in related news, Chesapeake Energy (CHK -5.6%) is down another 5% today, recording new multiyear lows.
    • ETFs: UNG, UGAZ, DGAZ, BOIL, GAZ, FCG, GASL, KOLD, UNL, DCNG
    | Nov. 20, 2015, 3:54 PM | 79 Comments
  • Nov. 13, 2015, 4:20 PM
    | Nov. 13, 2015, 4:20 PM
  • Nov. 6, 2015, 4:54 PM
    | Nov. 6, 2015, 4:54 PM | 4 Comments
  • Nov. 2, 2015, 7:35 PM
    • Credit Suisse forecasts that natural gas prices will rise more than expected this winter, and recommends buying EQT Corp. (NYSE:EQT), Range Resources (NYSE:RRC), Rice Energy (NYSE:RICE) and Southwestern Energy (NYSE:SWN).
    • While forecasters see a likely warmer than usual start to November, this year's El Niño should produce greater cold in the northeast in January and February - where and when it matters the most - Credit Suisse says.
    • EQT, for one, is expected to have 99% of its production come in as natural gas, and has superior cost structure and above average growth; with an increasing reserve structure and a projected higher number of Marcellus wells to be drilled in the coming five years, the firm thinks EQT exhibits industry-leading organic growth momentum.
    • ETFs: UNG, UGAZ, DGAZ, BOIL, GAZ, FCG, GASL, KOLD, UNL, DCNG
    | Nov. 2, 2015, 7:35 PM | 40 Comments
  • Oct. 27, 2015, 11:34 AM
    | Oct. 27, 2015, 11:34 AM | 40 Comments
  • Oct. 26, 2015, 2:18 PM
    • Natural gas futures are down ~8% as supplies rise toward record levels amid expectations of a warm start to the winter, sending shares of energy companies with heavy exposure to natural gas sharply lower; CHK -8.7%, SM -7.7%, RRC -7.4%.
    • Adding to the volatility is the expiration of the November futures contract Wednesday, which recently was trading at $2.06/MMBtu, a level last seen in 2012.
    • "This could be a blow off bottom," says Again Capital's John Kilduff, who says the price is hit by expectations that a record amount of natural gas will soon be in storage; weekly data show gas storage at 3.81T cf vs. a record 3.93T cf in November 2012.
    • Weather forecasts released last night called for “significant warm trends” across much of the U.S. in the next two weeks, according to MDA Weather Services.
    • Crude oil prices also are lower, as lingering concerns over a global supply glut and weakening demand send prices toward their lowest settlement in six weeks.; WTI -1.5% at $43.95/bbl, Brent -0.8% at $47.61.
    • ETFs: UNG, USO, OIL, XLE, UGAZ, UCO, DGAZ, UWTI, VDE, ERX, OIH, SCO, BNO, BOIL, GAZ, DBO, DWTI, ERY, FCG, DIG, GASL, DTO, DUG, KOLD, BGR, USL, IYE, UNL, DNO, FENY, FIF, PXJ, OLO, SZO, RYE, DCNG, FXN, OLEM, DDG
    | Oct. 26, 2015, 2:18 PM | 44 Comments
  • Oct. 23, 2015, 4:20 PM
    | Oct. 23, 2015, 4:20 PM | 3 Comments
  • Oct. 9, 2015, 4:15 PM
    | Oct. 9, 2015, 4:15 PM | 2 Comments
FCG Description
The First Trust ISE-Revere Natural Gas Index Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the ISE-Revere Natural Gas Index. The ISE-Revere Natural Gas IndexTM is an equal-weighted index comprised of exchange-listed companies that derive a substantial portion of their revenues from the exploration and production of natural gas. The Index is constructed by establishing the total population of stocks listed in the U.S. of companies involved in the exploration and production of natural gas and then eliminates stocks whose natural gas proved reserves do not meet certain requirements.
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Country: United States
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