Velocityshares 3X Long Natural Gas ETN (UGAZ)

[budmgd]

The OTHER thing of interest I found at the top of the board is this description of UGAZ:

...note it doesn't say anything about tracking a certain 'contract'

$UGAZ FUND DESCRIPTION The VelocityShares 3X Long Natural Gas ETN provides 3x the daily return of a production-weighted index of world natural gas producers listed in OECD (Organization for Economic Co-operation and Development) countries.

$UGAZ FACTSET ANALYTICS INSIGHT UGAZ is a 3x leveraged ETN providing exposure to the S&P GSCI Natural Gas ER Index, which tracks world natural gas producers in OECD countries via production-weighting. Its reference index is an "excess return" index for natural gas, which reflects both the returns due to price changes on its futures contracts as well as any gain or loss from "rolling" those futures contracts.