UPDATE: The ETF is now trading, here's the info.
Go Green, Get Tan.
I hope they didn't pay a lot for that slogan.
Here's the website, it's barebones right now.
Here's the index the fund will be based on. From the press release:
Melvin & Company Introduces the First Global Solar Energy Index
MAC Indexing LLC today announced the introduction of the MAC Global Solar Energy Index (Index Ticker: SUNIDX), the first index to independently track the rapidly growing solar energy sector. Dow Jones will publish the Index, which was developed and is maintained by MAC Indexes, LLC, an affiliate of Melvin & Company that specializes in clean energy equity research and index development.
The MAC Global Solar Energy Index has been licensed to Claymore Advisors, LLC, which anticipates launching the first solar power exchange-traded fund (ETF) on the NYSE-Arca under the symbol "TAN" in April (www.claymore.com/tan).
"The creation of the MAC Global Solar Energy Index recognizes the growth of the solar sector and its maturing in terms of investment depth," said Christopher C. Melvin, Jr. Chairman and Chief Executive Officer of Melvin & Co. "Solar continues to be one of the fastest growing sectors within the clean-tech industry with a recent 47% annual growth rate and an expected 40% continued growth in the next few years."
A global portfolio of 25 leading solar companies with a combined market capitalization of nearly $100 billion comprise the index. The average market capitalization of the stocks in the Index is approximately $3.8 billion and the median is approximately $1.2 billion....MORE
