Solar Energy ETFs Higher After Canadian Solar Results

ETF Trends

Guggenheim Solar ETF (TAN) and Market Vectors Solar Energy ETF (KWT) rallied Tuesday morning after Canadian Solar (CSIQ) posted a smaller-than-expected quarterly loss.

The solar ETFs are among the best sector performers this year although they remain well below their pre-crisis highs.

TAN has more than doubled in price the past six months after languishing for years and undergoing a reverse stock split in 2012. [Solar ETF Readies 1-for-15 Reverse Split After Long Decline]

TAN was up nearly 4% at Tuesday’s open as Canadian Solar shares jumped about 20%. The company narrowed its first-quarter loss on a steep fall in manufacturing costs, and forecast higher solar panel shipments for the current quarter as it steps up its presence in the high-margin Japanese market, Reuters reports.

The ETF has 3.4% of its portfolio in Canadian Solar.

Guggenheim Solar ETF

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