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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