The Guggenheim Solar ETF (NYSEArca: TAN), which tracks global solar photovoltaic panel producers, has been drubbed this year and recent price action in the largest solar exchange traded fund shows traders continue to hammer the fund.
Last week, TAN fell 3.3%, bringing its one-month loss to nearly 9%. Year-to-date, TAN has plunged more than 43%.
Clean energy stocks and ETFs have wilted following Donald Trump’s surprise victory in last month’s presidential election.
The clean energy sector has found support under President Barack Obama as the administration pledged to fight against global warming and climate change through heavy subsidies into green technology. However, Trump, who called climate change a hoax perpetrated by China, pledged to cancel last year’s Paris climate agreement and remove Obama’s Clean Power Plan, could reverse years of supportive alternative energy policies.