UNG is confirming it will continue expanding its holdings via the over-the-counter market and even energy markets other than gas to expand its holdings after running out of shares by hitting the CFTC-imposed limit in June:
U.S. Natural Gas is most likely to increase its use of over-the-counter products, Mr. Hyland said. The fund already has about 5% of its assets in swaps, in which the fund enters an agreement with a counterparty that yields a return in line with natural gas prices.
The fund also may buy crude oil, heating oil or gasoline, he said.
Nat gas ETF weighs options (Wall Street Journal)