ETF Trends
ETF Trends

The broader market hobbled on in laconic trading Monday, but the solar sector, along with related exchange traded funds, is blazing forward.

The Guggenheim Solar ETF (NYSEArca: TAN) gained 8.2% Friday while Market Vectors Solar Energy ETF (NYSEArca: KWT) rose 6.0%. Year-to-date, TAN increased 140.9% and KWT rose 104.7%.

Leading the charge, Elon Musk’s SolarCity (NasdaqGM: SCTY) surged 16.8% Monday after offering $54 million buyout in asset-backed notes, Bloomberg reports. [Solar ETF Shines on Installation Estimates with SolarCity Surging 22%]

Industry watchers will also be looking for SolarCity’s earnings report Wednesday, Nov. 6. [The Solar ETF Has A Bright Future]

Other solar stocks were also shining. SunPower Corp. (NasdaqGS: SPWR) was up 10.2% after revealing a its intent to acquire Greenbotics Inc., which would help SunPower expand its energy services portfolio for global customers, especially in markets with dirt and dust environments, according to a press release.

Canadian Solar (NasdaqGS: CSIQ) was 10.5% higher after upgrading its third quarter outlook due to higher solar module shipments, according to Schaeffer’s Investment Research. Additionally, the company increased estimates for quarterly gross margin to 18%-20%.

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