5 Top-Performing Stocks In The Top ETF Of Q2

First Trust ISE-Revere Natural Gas Index Fund (FCG - Free Reporttopped the list of the best-performing ETFs in the second quarter with impressive returns of 73%.

This is especially true as oil price made the greatest comeback in history after collapsing to below zero (to negative $40) on Apr 20 for the first time ever. The production cuts by major oil producers and an uptick in demand with easing lockdowns measures have led to a spike in oil price.

Oil producers have started scaling back their production at record levels. The most-notable development comes from OPEC, the 14-nation organization, and its allies that have agreed to extend historic production cuts of 9 .7 million barrels per day (about 10% of global supply) by another month, through the end of July. Additionally, the stockpile is declining slowly, easing the storage crisis. On the other hand, demand for oil has been recovering across the world as pandemic-forced lockdowns have been lifted.

Let’s take a closer look at the fundamentals of FCG.

FCG in Focus

This fund offers exposure to U.S. stocks that derive a substantial portion of their revenues from the exploration and production of natural gas. It follows the ISE-REVERE Natural Gas Index and holds 34 stocks in its basket. The fund has amassed $80 million in its asset base while charging 60 bps in annual fees. Volume is good with 1.3 million shares exchanged per day on average. The product has a Zacks ETF Rank #3 (Hold) with High risk outlook.

Though most of the stocks in the fund’s portfolio delivered strong returns, some stocks more than doubled in the second quarter. Below we have highlighted those five best-performing stocks in the ETF with their respective positions in the basket:

Best-Performing Stocks of FCG

Ovintiv Inc. (OVV - Free Report): The company is engaged in the exploration, development, production, and marketing of natural gas, oil, and natural gas liquids. The stock has witnessed positive earnings estimate revision of $31 over the past 30 days for this year and its earnings are expected to decline 78.1%. It skyrocketed 278% in the second quarter and has a Zacks Rank #3 and Value Score of A. The stock holds the fourth spot in the fund’s basket with 4.2% of the total assets.

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