Investors seeking momentum may have United States 12 Month Natural Gas ETF (UNL Quick QuoteUNL - Free Report) on radar now. The fund recently hit a new 52-week high. Shares of UNL are up approximately 39.4% from their 52-week low of $7.24/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

UNL in Focus

The underlying Natural Gas Price Index is the near month futures contract to expire and the contracts for the following 11 months, for a total of 12 consecutive months.The expense ratio is 0.90%.

Why the move?

Natural gas prices jumped to a two-month high. Scorching heat and improved export demand indicated even tighter balances ahead of the peak summer cooling season.  The July Nymex contract is hovering around the highest close for the prompt month since January 2019.

More Gains Ahead?

The fund has a positive weighted alpha of 35.47. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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