First Solar a Key Component in Guggenheim Solar ETF
By Market News Video Staff, Monday, October 4, 10:59 AM ET
Over 13% of the Guggenheim Solar ETF (AMEX:TAN), formerly the Claymore MAC Global Solar Energy ETF, is held in First Solar (NASDAQ:FSLR) shares.
First Solar is about double the weight of the next holding, Trina Solar Ltd (NYSE:TSL) at 6.53%, MEMC Electronic Materials (NYSE:WFR) at 5.02% and Yingli Green Energy at (NYSE:YGE) at 4.75%.
The ETF's underlying index is designed to track companies that produce solar power equipment and products for end-users, companies that produce fabrication products or services for solar power equipment producers, companies that supply raw materials or components to solar power equipment producers or integrators; companies that derive a significant portion of their business from solar power system sales, distribution, installation, integration or financing; and companies that specialize in selling electricity derived from solar power.
In the last three months, this ETF is up nearly 24%, and it certainly has helped that it is weighted toward First Solar, which is also up about 20% over the three months.
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