For investors seeking momentum, Invesco Solar ETF (TAN - Free Report) is probably a suitable pick. The fund just hit a 52-week high, up roughly 64.8% from its 52-week low of $19.90/share.
But does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
TAN in Focus
The fund is based on the MAC Global Solar Energy Index, which is comprised of solar energy companies. It has 22 holdings. The fund’s AUM is $460.7 million and expense ratio, 0.70%
Why the Move?
The highest-ever solar installation and the exemption of tariff on one type of solar panels have supported the upside. Moreover, the solar industry has been growing on a rebound in global solar demand, competitive pricing and potential Chinese subsidies. Also, California’s initiative to make solar panels essential to all new homes built in 2020 and beyond is helping the solar industry.
More Gains Ahead?
Currently, it seems TAN might remain strong given a positive weighted alpha of 55.0.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors seeking momentum, Invesco Solar ETF (TAN - Free Report) is probably a suitable pick. The fund just hit a 52-week high, up roughly 64.8% from its 52-week low of $19.90/share.
But does it have more gains in store? Let’s take a look at the fund and its near-term outlook to gain an insight into where it might be headed:
TAN in Focus
The fund is based on the MAC Global Solar Energy Index, which is comprised of solar energy companies. It has 22 holdings. The fund’s AUM is $460.7 million and expense ratio, 0.70%
Why the Move?
The highest-ever solar installation and the exemption of tariff on one type of solar panels have supported the upside. Moreover, the solar industry has been growing on a rebound in global solar demand, competitive pricing and potential Chinese subsidies. Also, California’s initiative to make solar panels essential to all new homes built in 2020 and beyond is helping the solar industry.
More Gains Ahead?
Currently, it seems TAN might remain strong given a positive weighted alpha of 55.0.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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