Oil exchange traded funds (ETFs) weren’t the only winners today – record prices sent investors once again scurrying for alternative energy sources.
The First Trust NASDAQ Clean Edge US Liquid (QCLN) was up nearly 4% in trading today as oil once again hit a new record of $139.89 before pulling back some, finally settling at $134.61 a barrel.
Gas prices also continued moving up, now at a record $4.08 a gallon national average.
At prices like these, it’s no wonder people are looking for other ways to access energy. Alternative energy ETFs are being rolled out more and more frequently. Some of the most recent launches include:
- PowerShares Wilderhill Clean Energy Portfolio Fund (PBW)
- Claymore/MAC Global Solar Energy (TAN)
- Van Eck Global Alternative Energy (GEX)
- Market Vectors Global Nuclear Energy (NLR)
The newest member of the alt-energy family is expected this week, this time harnessing the power of wind: First Trust says it will launch the First Trust ISE Global Wind Energy Index Fund (FAN) on Wednesday. Its underlying index is made up of companies around the world that are active in the wind energy industry. The minimum market cap for a company in the index is $100 million.