Markets

Clean Energy ETF (ACES) Hits New 52-Week High

Investors seeking momentum may have ALPS Clean Energy ETF (ACES) on radar now. The fund recently hit a new 52-week high. Shares of ACES are up approximately 97.8% from their 52-week low of $23.15/share.

But could there be more gains ahead for this ETF? Let’s take a look at the fund and the near-term outlook to get a better idea of where it might be headed.

ACES in Focus

The underlying CIBC Atlas Clean Energy Index utilizes a rules-based methodology which is designed to provide exposure to a diverse set of U.S. and Canadian companies involved in the clean energy sector including renewables and clean technology. ACES charges investors 65 basis points in fee per year (see all Alternative Energy ETFs here).

Why the move?

Growing consumer electric vehicle adoption as evident from the success of Tesla TSLA, boost in charging stations by U.S. states and increased solar-storage installations have acted as a tailwind for the U.S. clean energy sector for the past few quarters.

More Gains Ahead?

The fund has a positive weighted alpha of 65.72. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.

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ALPS Clean Energy ETF (ACES): ETF Research Reports

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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