Although shares of FirstSolar (NasdaqGS: FSLR), TAN’s largest holding t nearly 10% of the ETF’s weight, are still sharply higher this year, the stock has plunged 6.2% in just the past week. Shares of Elon Musk’s SolarCity (NasdaqGS: SCTY) have slid 30% in the past 90 days. SolarCity is TAN’s seventh-largest holding with a weight of 5.3%.
Earlier this year, the Commerce Department recently enacted anti-dumping and anti-subsidy investigations on Chinese and Taiwanese imports of silicon solar photovoltaic products. This is not the first time U.S. regulators have targeted Chinese solar firms, which have been accused of flooding the market with inexpensive supply at times of tepid demand for solar power. [China Could Fight DoJ on Solar Dumping]
In late March, ReneSola was contacted by DoJ, which named the company as a mandatory respondent, indicating this issue has the potential to be a thorn in the side of solar ETFs going forward.
Guggenheim Solar Energy ETF
