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.

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 >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
ALPS Clean Energy ETF (ACES): ETF Research Reports
 
To read this article on Zacks.com click here.
 
Zacks Investment Research
 
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

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

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.