We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
For investors seeking momentum, iShares Global Clean Energy ETF (ICLN - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 123% from its 52-week low price of $8.08/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
ICLN in Focus
This fund offers exposure to companies that produce energy from solar, wind, and other renewable sources. It has key holdings in renewable electricity, semiconductor equipment, and electrical components & equipment. U.S. firms account for 42.9% of the assets while China rounds off the next spot with double-digit exposure. The product charges 46 basis points in annual fees (see: all the Alternative Energy ETFs here).
Why the Move?
The clean energy corner of the broad U.S. stock market has been an area to watch given leading Democratic presidential candidate Joe Biden’s push for clean energy and infrastructure plans. Biden aims to pump $2 trillion into green energy over four years to build solar panels, charging stations and more. A Biden presidency is touted to spur tens of thousands of new wind turbines and millions of new solar panels across the United States to rapidly achieve zero-carbon energy. The plan will eliminate carbon emissions from the power grid by 2035 and accelerate the uptake of electric vehicles.
More Gains Ahead?
It seems that ICLN might remain strong given a high weighted alpha of 53.02 and also a high 20-day volatility of 36.92%. As a result, there is definitely still some promise for investors who want to ride on this surging ETF a little further.
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 >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Clean Energy ETF (ICLN) Hits New 52-Week High
For investors seeking momentum, iShares Global Clean Energy ETF (ICLN - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 123% from its 52-week low price of $8.08/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
ICLN in Focus
This fund offers exposure to companies that produce energy from solar, wind, and other renewable sources. It has key holdings in renewable electricity, semiconductor equipment, and electrical components & equipment. U.S. firms account for 42.9% of the assets while China rounds off the next spot with double-digit exposure. The product charges 46 basis points in annual fees (see: all the Alternative Energy ETFs here).
Why the Move?
The clean energy corner of the broad U.S. stock market has been an area to watch given leading Democratic presidential candidate Joe Biden’s push for clean energy and infrastructure plans. Biden aims to pump $2 trillion into green energy over four years to build solar panels, charging stations and more. A Biden presidency is touted to spur tens of thousands of new wind turbines and millions of new solar panels across the United States to rapidly achieve zero-carbon energy. The plan will eliminate carbon emissions from the power grid by 2035 and accelerate the uptake of electric vehicles.
More Gains Ahead?
It seems that ICLN might remain strong given a high weighted alpha of 53.02 and also a high 20-day volatility of 36.92%. As a result, there is definitely still some promise for investors who want to ride on this surging ETF a little further.
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 >>