Stocks were flat to kick off the holiday shortened week after a strong finish for the previous week. The boost in sentiment came last week from a series of solid economic reports, concluded by a better than expected June jobs report on Friday. The Dow, the S&P 500 and the Nasdaq started the day near record highs, we’ll see where the day leads.
Solar stocks are down from their February peak, and this may be an excellent time to buy the dip.
Rapidly declining installation costs and increasing demand across the public and private sector could send solar stocks on an upward path for years to come. Business Insights projects that the $163 billion global solar industry will reach $194.75 billion by 2027, exhibiting a CAGR of 6%.
Solar power isn’t going anywhere anytime soon, which means continued growth can be expected in the long term. In today’s trade we’ll cover an investment for our readers who are looking to cast a wide net and reap benefits from promising companies across the solar industry.
The Invesco Solar ETF (TAN) is a great way to gain exposure to solar without investing in just one stock. The fund seeks to track the MAC Global Solar Energy Index and is comprised of about 35 individual components — including both U.S. and international stocks. The fund follows a blended strategy, investing in both value and growth stocks with various market caps.
TAN share price reached its peak in mid-February and has fallen since. However, it could be an excellent opportunity to get in at a more attractive price as growth in the solar industry will likely gain strength in the long term.
ETFs, by their nature, are often considered a less risky investment as they tend to be much less volatile than individual stocks. If you’re unsure about which solar stocks to buy, and if you want to cut back on potential risk, TAN is a relatively safe way to add solar energy to your investment portfolio.
Invesco Solar ETF (TAN)
- Weighted Average Market Cap $11.95B
- Price / Earnings Ratio 119.23
- Price / Book Ratio 3.16
- YTD Return -14.05%
- Yield 0.11%
- Expense Ratio 0.69%
- Net Assets 3.13B
- Number of Holdings 147
- Top Holdings Enphase Energy, SolarEdge Technologies, Xinyi Solar Holdings Ltd.
Where to invest $1,000 right now...
Before you consider buying TAN, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not TAN.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
Click here to watch his presentation, and decide for yourself...
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
Click here to find out the name and ticker of Keith's #1 pick...
