SunPower is almost 5.2% of TAN’s weight, but FirstSolar, SolarCity and Canadian Solar combine for 18.6% of the ETF’s weight, according to Guggenheim data.
Investors are sticking by TAN, last year’s top-performing energy ETF. Since the start of the second quarter, the has pulled in almost $40 million in new assets and since the start of 2014, TAN is heavier by $124 million. That means almost 30% of the ETF’s current assets under management total has come into the fund just this year. [Solar ETF Nears Bear Market]
If TAN does rebound, that rebound is likely to sparked by First Solar and SolarCity, among others.
First Solar’s “chart indicates a stock under long-term accumulation, with bursts of euphoria and panic mixed in,” notes Taner.
Guggenheim Solar Energy Index ETF
