Why The Solar ETF (KWT) Is Up 1,400% Today
July 02, 2012 at 14:47 PM EDT
No, you did not misread that headline. The Market Vectors Solar Energy ETF ( KWT ) is in fact up a whopping 1,425% on the day. But the reason why is not quite as glamorous as solar investors were hoping. The fund underwent a reverse 1-for-15 stock split today as its share price has been plummeting for well over a year now. “The solar ETF was down 74% for the year ended June 28, according to Morningstar” writes Tom Lydon . The fund has just $9.4 million in assets and has been struggling alongside the solar industry in the past year. KWT had lost over 29% in 2012 though it was still able to maintain a decent dividend yield (which will likely change given the massive split) [see also 25 Ways To Invest In Alternative Energy ]. See the full story here → Related Posts: China Solar Power: Sunny Days Ahead For Solar ETFs? Three Reasons Why Solar Stocks Are Sinking
