Solar Energy Investments Soar

Crude oil hit a 2009 high of $71 a barrel on Wednesday, pushing solar energy ETFs to an eight-month peak, according to Investor’s Business Daily.

Claymore/MAC Global Solar Energy (TAN) soared 6.2% to 11.47, closing well above its 200-moving average, IBD reported. Volume swelled to nearly four times normal.

TAN has surged 147% from its March low, however, it is still trading 60% below its 52-week high, according to IBD. TAN holds stocks of 26 solar companies engaged in providing solar power products, services, raw materials or electricity derived from solar energy.

LDK Solar, a Chinese firm, rocketed up 21% to 13.83 on Wednesday in five times usual volume. IBD reported a Chinese official as saying that China intends to derive 20% of it energy from alternative sources by 2020.

Labels: ETF, LDK Solar, Solar News, Solar Stocks, Solar Stocks Performance, TAN

posted by Ertai at 9:53 AM