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Good News For TAN:
http://www.zacks.com/stock/news/110995/inside-the-incredible-surge-in-solar-etfs
Inside the Incredible Surge in Solar ETFs
he solar industry appeared to be doomed in 2012 with ETFs tracking the sector recording double digit losses to the extent of 50%. However, 2013 could have seen a cautious turnaround for the industry.
Investors should note that exchange traded funds tracking the solar industry did their best to provide investors with good gains. These ETFs have not only shed the loss but have come a long way in providing good returns to investors.
Investors should note that The Market Vectors Solar Energy ETF (KWT) is up a whopping 73.82% for the year, while the other solar ETF, Guggenheim Solar ETF (TAN) performed even better recording a massive gain of 108.6% (Key Differences in Solar ETFs: KWT vs. TAN).
Behind the Surge
The growth in the photovoltaic industry appears to be supported by increased solar panel installations. Americans are seen to install one solar photovoltaic system every four minutes, and given current market growth projections, we could be installing one system every minute and twenty seconds by 2016, reports Stephen Lacy for Greentech Media.
GTM Research calculates that about two-thirds of all distributed solar systems in the U.S. were installed in the past two and half years, and cumulative installations of distributed photovoltaic systems will double by 2016. With installations going up every 83 seconds, capacity is projected to hit 9 gigawatts by 2016 (Solar ETF Investing 101).
Additionally, the industry growth is also being supported by lower cost and increased competitiveness. Moreover, China also seeks to double its upper limit for solar power to 40 gigawatts by 2015 which is again a good development which should boost the solar energy ETFs as China shares a healthy asset base in both the funds. KWT has assigned 23.9% to China while TAN has assigned 27.3%
In a boost for its own solar industry, China’s Ministry of Finance mentioned provision of tax breaks to solar products manufacturers in order to assist those companies that are still short of good demand (5 Clean Energy ETFs Leading the Sector's Surge).
ETFs to Play These Trends
KWT manages an asset base of $18.9 million which it invests in a portfolio of 33 stocks. The fund appears to be highly concentrated in top ten holdings with a share of 60.5%. The top three holdings include GCL-Poly Energy Holdings Ltd, Hanergy Solar Group Ltd and MEMC Electronic Materials Inc.
American securities dominate the portfolio, with 29.2% going to the U.S., while China and Taiwan account for 23.9% and 19.9% of the assets, respectively.
The product is tilted towards the information technology and industrials sectors with nearly 52.9% and 46.8.2% share, respectively.
The ETF is relatively illiquid in nature, trading in a small volume of 2,600 shares a day. Still, KWT is up 73.8% year-to-date and has increased 74.1% over the period of one year (3 Top Performing Energy ETFs in Focus Now).
On the other hand, TAN has a larger asset base of $213.1 million with 29 stocks. Hanergy Solar Group ltd, First Solar Inc and Trina Solar LTD occupy the first three positions in the fund.
The ETF is heavily concentrated in the technology sector, while small and mid cap stocks dominate from a cap perspective. The product trades in a good volume of more than 333,421 shares a day. The fund charges 70 bps in fees and expenses.
TAN has emerged as a top performing non-leveraged ETF after several years of dreadful performance. TAN has not only reached its all-time high but has exceeded it.
Bottom line
Solar energy refers to energy released by the sun which is converted into electricity. Although this energy accounts for a very small portion of the energy market, it has made successful gains in the financial world.
In fact, in years to come, solar ETFs could turn out to be a good alternative energy investment. This is especially true if the current positive trends continue, with both technological innovation and oil prices remaining firm.
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I'm with you, I bought right as it turned south last week. I'm hoping the downtrend is over!
I hope so. I've been hurting the past few days after buying calls when it was around 39. Luckily they're near the money and good till April.
Monster ride to $50 by end of November IMO. We have bottomed out and are climbing up!!
Zacks mentions TAN on Friday Here Load these dips!
TAN is the bomb. Big gains month in and month out. Feel free to post Here or on the weekend warriors board Sat and Sun. It's ETF friendly. I'm stoked to find TAN!!
I wish I had found this one sooner. Took a position today. I've been wanting back in the solar stocks but got burned on FSLRs secondary earlier this year and reluctant to invest in any of the solar companies individually since.
TAN = GOOD long for Solar players
properly named as well. with my favorited bold
http://guggenheiminvestments.com/tan
"got in today @4.12. Modest position"
Must have done a reverse split.
E-mail reaction to Japan: "... Interestingly solar stocks are trading up at the moment as people look for alternative energy stocks to bid on. I guess they think people are going to be so scared of nuclear energy now that governments will invest in other energy sources. The GEX alternative energy ETF is up over 4% in pre-market action and is one of the few ETF's actually trading up. Disclosure - long this one. Sometimes you are lucky... "
Much the same can be said for TAN... chart is interesting as well.
pulling back nicely. I'd like to see it come down to the mid 6's. And then I'd become very interested at 5. watching
Is now time to get into solar? With the way our government is and global growth, I expect oil to jump greatly which will in turn make us hunt for other sources.
Might not be horrible to have some type of a ETF like TAN as a small percentage of your portfolio
thanks I will check out slx.
welcome, if you like ETFs check out FAN for wind power, and SLX for Steel. Both have some serious upside under Obama if he can turn the economy around.
News - March 26, 2009 12:49 PM EDT
Piper Jaffray's solar analyst Jesse Pichel is commenting on the sector today related to the new China solar subsidy, which has set the sector en fuego, represented by the 20% move in ETF Claymore/MAC Global Solar Energy (NYSE: TAN). Pichel said this is a positive development, but impossible to quantify.
Pichel notes, "The Chinese government has proposed a generous subsidy - capex based subsidy of 20 RMB/w ($3 USD/w) for projects over 50kw, making the cost of solar installation only the inverter an balance of systems. The official document does not mention a cap, but does not specifically say there will be no cap. We believe it is unlikely the subsidy will have no cap."
Pichel said this is a certainly a long term positive, but it is premature to bid up solar stocks significantly on this news alone. He remains positive on the group.
Pichel also notes, "This subsidy undoubtedly shows the Chinese government's strong support for the solar industry."
* Suntech Power Holdings Co., Ltd. (NYSE: STP) +50%
* Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE) +43%
* Canadian Solar Inc. (Nasdaq: CSIQ) +32%
* LDK (NYSE: LDK) +39%
* ReneSola (NYSE: SOL) +31%
* JA Solar Holdings Co., Ltd. (Nasdaq: JASO) +32%
* Solarfun Power Holdings Co., Ltd. (Nasdaq: SOLF) +22%
* First Solar, Inc.(NASDAQ: FSLR) +15%
* Energy Conversion Devices, Inc. (Nasdaq: ENER) +16%
* SunPower Corporation (Nasdaq: SPWRA) 17%
* Evergreen Solar (Nasdaq: ESLR) +15
* DayStar (Nasdaq: DSTI) +15%
* Ascent Solar (Nasdaq: ASTI) +12%
* Hoku Scientific, Inc. (Nasdaq: HOKU) +17%
http://www.streetinsider.com/Analyst+Comments/Piper+Jaffray+Comments+On+New+China+Solar+Subsidy+(TAN,+STP,+YGE,+LDK,+more...)/4515442.html
i just discovered this little gem, but I have to wait for a pull bac, maybe tomorrow afternoon,
Oil is pushing very well, that always helps... FSLR up to $150!
Why the pop today? up over 18%!
Starting to look like some consolidation is going to have to take place in this sector...
FSLR looks to be the shining star imo...
wheres the floor?im getting dizzy
I think it's due!
maybe this week that rally begins in earnest....
Me likie...
http://news.yahoo.com/s/ap/20090110/ap_on_go_pr_wh/obama_economy
Congressional officials said aides to the president-elect had agreed to increase the $10 billion originally ticketed for energy tax breaks, although the final total remained unclear. Two officials said at least $20 billion would be reserved, but others indicated it could go higher.
Details were not available, but Obama has spoken in the past about increasing tax breaks for production of alternative energy sources such as wind power. The energy tax provisions make up a small part of a massive economic stimulus bill — expected to reach over $800 billion over two years — that congressional leaders hope to pass before mid-February.
TAN might get to $10 with the Obama Solar rally...
$10 Jan calls are cheap...
i'm going to wait for 7's
Nice call on that. And what a nice break upward. Freeing up funds now to get in. GLTA!
TAN at the crossroads of two significant trend lines in referenced post. Wonder which way it will break out?
Grabbed some TAN Calls, I see an Obama effect starting today...
Obama economic plan aims for 2.5M new jobs by 2011
– Sat Nov 22, 1:47 pm ET
WASHINGTON – President-elect Barack Obama promoted an economic plan Saturday he said would create 2.5 million jobs by rebuilding roads and bridges and modernizing schools while developing alternative energy sources and more efficient cars.
"These aren't just steps to pull ourselves out of this immediate crisis. These are the long-term investments in our economic future that have been ignored for far too long," Obama said in the weekly Democratic radio address.
The goal is to get the plan quickly through Congress, with help from both parties, after Obama takes office Jan. 20. The plan, which envisions those new jobs by January 2011, is "big enough to meet the challenges we face," he said. The president-elect said he has asked his economic advisers to flesh out the recovery plan — one "big enough to meet the challenges we face. ... We'll be working out the details in the weeks ahead, but it will be a two-year, nationwide effort to jump-start job creation in America and lay the foundation for a strong and growing economy."
"We'll put people back to work rebuilding our crumbling roads and bridges, modernizing schools that are failing our children, and building wind farms and solar panels," Obama said.
http://news.yahoo.com/s/ap/20081122/ap_on_go_pr_wh/obama_economy
looking interesting here at this sub 6 buck level
SolarWorld offers $1.3B for Adam Opel's assets
Wednesday November 19, 8:59 am ET
By George Frey, AP Business Writer
SolarWorld offers $1.3B for assets of GM unit Adam Opel, aims to form "green" car maker
BERLIN (AP) -- German solar energy company SolarWorld AG said Wednesday it plans to offer euro1 billion ($1.26 billion) in cash and credit for some assets of car maker Adam Opel GmbH, the German subsidiary of financially strapped General Motors Corp. GM said it wasn't selling.
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Bonn-based SolarWorld said in a statement it was planning to offer GM euro250 million ($350 million) in cash and another euro750 million ($945 million) in credit lines in a bid for four German production facilities and Opel's Ruesselsheim development center and headquarters, to make it Europe's first true "green" auto company.
SolarWorld said any deal would be dependent on GM completely exiting the company. The parent company is seeking government loans and says it is running out of cash.
GM Europe spokeswoman Karin Kirchner said that "Opel is not for sale" and declined further comment, saying GM "wouldn't comment on speculation."
On Tuesday, Opel's supervisory board chief Klaus Franz, said it was unlikely that Opel would leave GM.
"GM won't let us go," Franz said, noting that Opel is responsible for the development of 4 million GM cars a year.
On Monday, Franz and GM officials met with German government officials to discuss a euro1 billion ($1.3 billion) loan guarantee. Chancellor Angela Merkel said then her government would decide on the matter by the end of the year, depending on how the situation unfolds at GM.
Meanwhile the Hesse state parliament announced Wednesday it had passed a law raising the level of potential state loan guarantees for companies like Opel and automotive suppliers to euro500 million ($630 million) from euro300 million ($380 million).
Hesse officials said 70,000 jobs in the state depend on the auto industry.
SolarWorld said it would develop a new generation of energy efficient and reduced emissions automobiles alongside successful models that Opel currently produces, should a deal work out.
"With the restructuring of the product pallet, the traditional German auto builder would offer in future especially electric and hybrid automobiles and the newest technology combining extended-range electric and combustion motors highly efficiently," SolarWorld said.
Tim Urquhart, an auto analyst with IHS Global Insight in London said he thought it was "highly ambitious and remarkable," and probably "difficult to pull off in the current environment."
"With a company with no track record in their history, it's unlikely," he said.
Urquhart said it would take "multiple billions" of euros to enter the automotive sector. Other companies that have tried to do so in the past have "fallen badly on their backsides."
The news sent shares of SolarWorld 19 percent lower to euro13.20 ($17) in afternoon trading.
http://www.opel.com
http://www.gm.com
http://www.solarword.de
Shares of Chinese solar companies Trina Solar Ltd. (TSL), Canadian Solar Inc. (CSIQ), JA Solar (JASO), Suntech Power Holdings Co. Ltd. (STP), and LDK Solar Co. Ltd. (LDK) are all currently at less than 4 times 2009 earnings estimates, compared with multiples of 9.5 and 17 for US firms SunPower and First Solar. Kevin Landis, manager of Firsthand Alternative Energy Fund, suggested yesterday that "You have the luxury of getting a good price on just about any company you care to buy," and added that there is a bit of a bias toward quality companies or companies that are a little more solid.
Source: STP News, Nov. 18, 08
Mike
Getting nice and cheap here again, this time I won't miss all the fun...
Obama plans could boost US solar development, demand, Gartner says:
http://www.edn.com/article/CA6613145.html?nid=3351&rid=1828606575
Mike
I'm not aware of a short ETF for solar.
frenchee,what is the short etf for solars. tia
Solar stocks for a rainy day
The industry has taken a beating in the market lately, but a few standouts may shine in the long run.
By Michael V. Copeland, senior writer
Last Updated: November 4, 2008: 8:42 AM ET
SunPower CEO Tom Werner and his solar module, on the grassy roof of the California Academy of Sciences in San Francisco.
Electricity from hydrogen
Solar stocks for a rainy day
Where business is booming
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(Fortune Magazine) -- No one loves Arnold Schwarzenegger more than the solar industry. Kicking off the nation's largest gathering devoted to all things sunny, the California governor won thunderous applause and two standing ovations from the crowd of 20,000 at the San Diego Convention Center. "What's green for the environment can also be green for the economy," he said. "Solar is the future; it's now; it can't be stopped."
For those four days in October, the Solar Power International 2008 convention drew attendees from 70 countries and generated lines stretching out the door for parking, food, and just about everything else. It seemed as if the power of the sun could conquer all. You wouldn't have guessed that just a week before, the financial meltdown had felled sector after sector, including the once-shining solar industry.
It's not that this swelling crowd thinks the macroeconomic troubles the world faces won't affect the solar industry; they know they will. All the leading solar companies have already seen the value of their stocks plummet far more than the 36% the Nasdaq has dropped from the beginning of the year to Oct. 21. The value of the Claymore/MAC global solar energy index (TAN), an ETF comprising global solar stocks, has dropped 56% since it started trading in mid-April.
Given the uncertainty of the economy, some analysts fear that the solar industry's customers could have trouble financing utility-scale solar projects that use lots of modules. Most residential solar installations, which can cost $20,000 to $30,000, require homeowners to borrow, and that money has all but disappeared. Subsidies in Spain, a huge market in recent years, are decreasing, and it is an open question whether countries that have new subsidies coming online, like Italy, Greece, and France, will fill the void.
In contrast to the 1980s - when solar companies got swept away by cheap oil, withdrawn government subsidies, or steep economic downturns - the sense this time is that the industry is here to stay. And not just stay and survive, but stay and flourish. Concern over climate change, combined with falling prices for solar technology, has made this source of carbon-free electricity more attractive than ever. The worldwide market for solar energy roughly doubled last year, to $33 billion, and analysts expect revenues to grow 33% a year for the foreseeable future. What began as a technology championed by tree huggers and pot growers is now a global market that Lux Research, based in New York City, says will reach about $100 billion in sales within the next five years. Germany, Japan, and Spain rank as the top markets for solar power, but other Western European nations are coming on fast, as are China and the U.S. As part of the bailout package, Congress extended the 30% investment tax credits for clean energy, which should give a boost to the American market.
'A real industry'
"Solar has become a real industry," says Marc Porat, a Silicon Valley veteran and chairman of green-building-materials company Serious Materials. Porat was at the conference in San Diego scouting for solar-electricity generating systems for another green project of his. Looking around the hall packed with startups selling everything from tools for manufacturing solar cells to rooftop hardware for mounting equipment to software for analyzing power needs, Porat emphasizes his point. "You can see that all the gaps in the market have been filled by multiple companies," he says. "It's the same with any good entrepreneurial opportunity."
After 30-plus years of steady improvement, solar electric technology is going mainstream. Photovoltaic (PV) panels, which convert sunlight directly into electricity, can increasingly be found on residential rooftops, warehouses, and Wal-Marts. Large-scale photovoltaic solar farms cover huge swaths of land to supply utilities with clean power. Entrepreneurs have also invested in solar thermal farms, where the sun's heat turns liquid into steam to drive a turbine.
Even with state-of-the-art manufacturing methods, PV solar power is still on average twice as expensive to produce as electricity generated by a coal-fired plant. But prices are finally coming down even as efficiency goes up, and some experts think the cost of solar will rival grid power in the next two to three years. In the meantime, government subsidies are bridging the cost gap in many markets. Also, as more nations pass carbon cap-and-trade laws - in the U.S. both Senators McCain and Obama support the idea - natural gas and coal will become more expensive, which should close the gap further. Finally, the industry has achieved scale. These are not backyard enterprises - they pull in hundreds of millions in revenue annually and do business everywhere on the planet. That they all are pursuing economies of scale should help drive down the cost of solar even further.
Although the industry is able to sell solar cells and modules today as fast as it can make them, analysts predict capacity will almost double in 2009. That has caused some analysts to raise the specter of over-supply and the possibility of a bloody price war among manufacturers. "It's going to trigger a shakeout," says Ted Sullivan, a senior analyst with Lux. "The weakest players will either get acquired or fail."
While industry players mostly disagree with Sullivan on the inevitability of aggressive price wars, they do see an upcoming shift in the industry. "I think we all agree that markets tend to consolidate during times like these," says Tom Werner, CEO of SunPower, a maker of solar-power-generating systems. "This is one of those periods in an industry where a handful of big players emerge."
Of the 14 pure-play public solar companies, experts expect at least three to stand out from the crowd. The winners possess differentiated technology, enough cash to survive, and the financial heft to enter the entire solar food chain, from producing modules to selling power like any other utility. While the industry is likely to remain volatile for some time to come, long-term investors might want to consider stocks of these three companies, whose values now look attractive.
First Solar
Among the favorites of stock analysts is First Solar (FSLR). Founded in 1999 and originally backed by the investing arm of the Walton (Wal-Mart) family, First Solar went public in 2006, right at the beginning of a wave of solar IPOs. In the coming shakeout First Solar should thrive, because with its cutting-edge thin-film technology it is able to produce solar modules more cheaply per watt than its competitors. Traditional crystalline-silicon photovoltaic systems sandwich wafers of silicon between glass, resulting in those boxy panels you see on rooftops. By contrast, First Solar's thin-film technology applies a fine layer of material directly to a glass substrate. The process is faster, and because it requires just a fraction of the expensive silicon used in traditional PVs, it's vastly cheaper. First Solar, which operates factories in Ohio, Malaysia, and Germany, can produce systems for $1.14 per watt of power, compared with $2.90 per watt for traditional crystalline-silicon solar cells. With subsidies, First Solar's products can compete in many parts of the world with a natural gas or coal-fired power plant.
Run by managers who are fanatics about meeting goals and avoiding unnecessary costs, First Solar routinely blows away both its own and the Street's targets. Its manufacturing team is legendary, bringing online factories that exceed expectations. "They come in at over 100% of projected capacity," says Jenny Chase, a senior analyst with New Energy Finance. "No one else does that."
The shares of this highflying Tempe, Ariz., company peaked at $317 in May and now are trading at $144. Analysts expect sales this year to reach $1.2 billion, up 138% from 2007, and to top $2.1 billion next year, with earnings per share more than doubling. First Solar also sits on $633 million in cash. While the stock is pricey with a current P/E of 50 and a forward P/E of 21, the company's growth prospects and strong balance sheet make it look like a buy.
SunPower
While First Solar has laid claim to the lowest price per watt for its modules, SunPower (SPWRA) claims the most efficient. Inch for inch, its modules produce the most electricity. While SunPower's systems are expensive, you need fewer of them, which makes them perfect for homes and businesses where space is tight. The company, based in San Jose, was spun out of Cypress Semiconductor in 2005 and now sports a $4.2 billion market cap - about eight times the size of its former parent. It has carved out a place in the solar industry similar to Apple's in the computer world, producing well-designed, aesthetically pleasing modules. SunPower has distinguished itself in the market as one of the highest-quality makers of modules. "Brand actually does matter in this industry," New Energy's Chase says, "and SunPower has it."
Besides making and installing systems, SunPower has started on a new track. Much like a utility, it has decided to sell the power its modules produce directly to customers. But that new strategy hasn't kept the stock from getting hammered. Over the past year, SunPower stock fell from a 52-week high of $164 to a low of $37 in early October. Werner is shocked by the drubbing his stock has taken. "The markets are valuing growth companies as if they were lead-pencil companies," he says. "This will take care of itself in time, and we are obviously in a really, really unique time."
Now trading at around $54, with a current P/E of 60 and a forward P/E of 12, this stock, too, looks like a buy. Analysts expect SunPower's sales this year to hit $1.4 billion, up 80% from 2007, and to rise to $2 billion in 2009. Earnings per share are expected to rise from $2.33 in 2008 to $3.55 in 2009, a 52% increase.
Suntech Power
While SunPower is obsessed with quality, what solarmaker Suntech Power (STP) offers is scale. Based in Wuxi, China, the company is the world's largest manufacturer of solar PV modules and has set in place an aggressive plan to stay on top, says Roger Efird, who runs Suntech's business in the Americas. With a cash hoard of $752 million, access to cheap local labor, and deep-pocketed Chinese lenders backing it up, the company has been able to take advantage of the fast-growing market. Efird, who is also chairman of the U.S. Solar Energy Industry Association, believes the risk of price declines in solar modules next year will be offset by continued thirst for new sources of clean energy in both China and the U.S.
Wedged in by people filling Suntech's booth at the San Diego solar conference, Efird looks around the hall. "There's not a person in this room who has a module for sale between now and the end of the year. It's all sold out," he says. "What people forget is that there are hundreds upon hundreds of solar projects, in the U.S. in particular, sitting on the shelf waiting for the right economic moment." Efird believes that moment is coming next year.
To hedge its bets, Suntech, like its competitor SunPower, is moving up the food chain, selling power directly to commercial customers. That's not Suntech's only hedge. The company has invested tens of millions to lock in the price of silicon over the next five to ten years, betting that demand will rise and prices eventually will trend up. Competing manufacturers without Suntech's resources will have to face the vagaries of the spot market for silicon in years to come. Of course, if silicon prices drop - new capacity is coming onstream - the move could prove a costly mistake for Suntech.
Suntech's share price has fallen from a 52-week high of $90 in January to $18 in mid-October. It looks cheap, with a current P/E of 17 and a forward P/E of 9. This year's sales, stemming mostly from its business in Asia, are estimated to clock in at $2.1 billion, up 62% over 2007, rising to $3.2 billion in 2009, as it pushes hard in the U.S. Earnings per share are projected to go from $1.67 this year to $2.50 next.
The shares of even the best solar companies have fallen on hard times. Yet for anyone who believes that the world is destined to move away from a carbon-based economy, investing in this nascent industry, at least in the long term, may very well be a move you won't regret.
First Published: November 4, 2008: 5:14 AM ET
Agree, and their graphs can't look better especially for those of us that loaded early last week (e.g., low 2's ESLR, and low 4's SOLF on by books).
I do not know about their short-term move, but long-term Solar PV is where the nice move will occur.
Mike
They are all up!
Add to that list: SPRWA, CSUN, STP, WFR & ENER.
Mike
Select solar names showing strength this morning:
ESLR +27.9%,
SOLF +12.6%,
YGE +11.8%,
TSL +8.5%,
SOL +8.1%,
LDK +7.8%,
JASO +7.1%,
CSIQ +6.4%,
FSLR +3.5%...
Here's a relative strength chart between TAN and KWT. The trend is currently in KWT's corner.
Top 10 TAN holdings...
http://finance.yahoo.com/q/cq?d=v1&s=ENER+FSLR+JASO+LDK+WFR+QCE.BE+REC.OL+SWV.BE+SPWRA+STP
TAN was mentioned first thing on Cramer tonight...
Winners
For most of the year solar ETFs rose and fell along with the price of oil. But that hasn't been the case lately. First Solar (FSLR: 161.91, +18.21, +12.67%), a bellwether of the industry and a key component of two of the most popular solar ETFs, announced last week its third-quarter net income jumped to $99.3 million on $349 million in revenue, up from $46 million in profits on $159 million in sales during the same time period last year. The company also announced some key deals.
Investors happily greeted those results. Indeed, Market Vectors Solar Energy (KWT: 18.39, +1.92, +11.65%) increased 10.5%. (The fund tracks an index that has a 13% weighting in First Solar.) The Claymore/MAC Global Solar Energy fund (TAN: 11.99, +1.59, +15.28%) gained 13.9%. (First Solar constitutes 9.6% of its underlying index.)
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NYSE Euronext (NYX) today announced the launch of the first global solar energy index ETF the Claymore/MAC Global Solar Energy Index ETF on NYSE Arca. As an industry leader in ETF and ETN listings and trading, exchange traded products listed on NYSE Arca represent 56% of ETF and ETN assets under management in the U.S., nearly $609 billion, the most of any exchange.
The Claymore/MAC Global Solar Energy Index ETF, which trades under the ticker symbol TAN, is designed to track approximately 25 companies within the following business segments of the solar power industry: equipment producers, suppliers of materials or services, installation, integration or finance, and companies that specialize in selling electricity.
The following NYSE-listed companies are included in the Claymore/MAC Global Solar Energy Index: MEMC Electronic Materials Inc. (NYSE: WFR), Suntech Power Holdings Co Ltd (NYSE:STP), LDK Solar Co Ltd (NYSE: LDK), Yingli Green Energy (NYSE:YGE), Trina Solar Ltd. (NYSE:TSL).,
As the first fully electronic platform to utilize designated liquidity providers, NYSE Arca sets the national best bid and offer nearly 85% of the time, leading all U.S. exchanges. NYSE Arca remains an established leader in the ETF and ETN market place offering investors some of the industry’s fastest and most innovative trading tools to access liquidity. Including today’s listings, NYSE Arca has 252 primary ETF and 43 ETN listings and trades all other eligible ETFs on a UTP basis. In 2007, NYSE Arca added 122 new ETFs and ETNs to its roster of primary listings, including a record 101 IPOs. For 2007, NYSE Arca was the primary listing exchange of choice with a total of 261 ETFs and ETNs listed.
TOP 10 HOLDINGS ( 55.27% OF TOTAL ASSETS) |
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