The fund speculative long position in natural gas as of last Tuesday's close was 141,371 contracts, down 8,333 from the previous week according to Friday's Commitment of Trader's report.
The biggest rally in the natural gas market since 2000 and the hedge funds for the most part sit on a small long position in the market.
The funds were long a record large 488,901 contracts last February, the very week the market peaked for the year.
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