ETF Trends
ETF Trends

Solar exchange traded funds (ETFs) appear to be basking in the sun as ever-rising energy prices are sending people looking for less expensive alternatives.

Two companies of interest are JA Solar (JASO) and Evergreen Solar (ESLR) who have experienced high first-quarter earnings. Market Vectors Solar (KWT) and Claymore/MAC Global Solar Energy (TAN) are up 7.7% and 9.5% respectively so far this week, reports Rob Wherry for Smart Money.

Both funds are still new kids on the block: KWT was launched on April 23, and it’s up 4.6% since then. TAN was the first solar ETF available, launching on April 15. Since then, it’s up 10.9%.

Will the flood of investors driven to solar continue, even if oil prices retreat? Time will tell. Oil futures fell today, settling at $122.20 a barrel. It’s the weakest level since May 8, say Myra P. Saefong and Polya Lesova for Market Watch. Natural gas prices also fell by 3% after a bigger-than-expected jump in supplies was reported.

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The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.