Investors Flee Solar ETF on Shaky Subsidies and Rate Hike Danger [Business News Network (BNN) (Canada)]
Invesco Ltd (IVZ)
Last invesco ltd earnings: 4/23 06:55 am
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Source: Business News Network
rates to possible subsidy reductions — and President Joe Biden's stalled infrastructure plan. Invesco Ltd.'s $2.4 billion Solar ETF (ticker TAN) suffered $417 million of outflows in December, the worst month in its nearly 14-year history. The outflows have continued as its share price has dropped almost 30% since October. While solar stocks have been caught up in the extensive rotation out of the high-growth technology firms as the Federal Reserve prepares to raise interest rates, Todd Rosenbluth, head of ETF and mutual fund research at CFRA, said the sector also took a hit after California last month proposed a subsidy cut for homeowners' systems. “It looks like it's going to be beneficial to state utilities, but make solar ownership less attractive for new buyers,” he said. The plan is still facing a fair amount of scrutiny as critics argue it would add new fees for solar users and discourage installations. California Governor Gavin Newsom said Monday that changes need to be
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IVZ
Earnings
- 4/23/24 - Miss
IVZ
Sec Filings
- 4/23/24 - Form 8-K
- 4/9/24 - Form 8-K
- 3/28/24 - Form ARS
- IVZ's page on the SEC website