LNG shipping stocks: Getting ready for a positive move?

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 LNG shipping stocks: Getting ready for a positive move?

Last week, the UP World LNG Shipping Index (UPI) dropped 1.92 points, or 1.24%, to close at 152.38 points. This index keeps track of the stocks of businesses that specialize in shipping LNG. The S&P 500 (SPX) index, which is a representation of US stocks, increased by 0.55%. Both indices are visible in the picture below.

The composition of the UPI remained same while it underwent its routine rebalancing. Nonetheless, the Reduction Gas Ratio and the free float of stocks caused all constituents' weights to be modified. Notably, in keeping with the index's methodology, Golar LNG (NASDAQ: GLNG) was only allowed to have a maximum weight of 20%.

An important finding is that the UPI moved into the upper end of the 2023 range.

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