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Claymore Securities introduced a new ETF on Tuesday called Claymore/MAC Global Solar Index [TAN
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], explains Dylan Ratigan. Essentially it tracks solar and clean energy stocks.
“At its inception, TAN gives investors access to a global portfolio of 25 leading solar companies with a combined market capitalization of close to $100 billion,” explains Christian Magoon, President of Claymore Securities, in a first on Fast Money interview.
“The availability of this product acknowledges the maturing of the solar energy industry and investor interest in funding solar power development,” he adds
Top 5 Fund Holdings
First Solar - 8.77 %
Renewable Energy Corp - 7.45 %
Q-Cells - 6.44 %
Suntech Power Holdings - 6.19 %
Ja Solar Holdings - 5.25 %
Traders what do you think?
I’m skeptical of ETF’s in general, says Pete Najarian. The volume can get too shallow and they can get too expensive from time to time.
I’d buy puts on this ETF, says Karen Finerman.
Read more:
> Claymore/MAC Global Solar Energy Index ETF
In case you're wondering TAN is listed on the NYSE and trades the same way as shares of a publicly traded company.
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Trader disclosure: On Apr. 15, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (INTC), (MSFT); Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MO), (MSFT), (PM), (SUN), (TSO), (VLO), (YHOO, (UFS); Finerman's Firm Is Short (SPG), (COF); Najarian Owns (AAPL), (AMR), (BIIB), (CSCO), (MSFT), (TSO), (XLF), (YHOO); Najarian Owns (LEH) Puts; Najarian Owns (WLT) Calls; Najarian Owns A Call Spread In (IBM); Najarian Owns A Call Spread In (INTC); Charles Schwab Is A Sponsor Of "Fast Money"
Data is a real-time snapshot *Data is delayed at least 15 minutes