Opinions
Daniel Straus
Harvest Clean Energy ETF
HCLN-T
TOP PICK
Dec 06, 2023
$9.250
Stock price when the opinion was issued
E.T.F.'s
It's the ideal tool to help you make quicker, more informed decisions for
managing and tracking your investments.
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BUY ON WEAKNESS
BUY ON WEAKNESS
Allan Tong’s Discover Picks HCLN is unhedged, and charges a 0.4% MER. Holdings include the China Longyuan Power Group, First Solar (American), Boralex (Canada), Plug Power (American) and VERBIO Vereingte BioEnergie (German). There are some good names here, such as Northland Power. Over half the basket deals in renewable power generation, plus 23.7% in solar power, and a third of the companies are in the U.S. Read 3 Energy Stocks: The safe, the spec and the ETF for our full analysis.
E.T.F.'s
Clean energy stocks have suffered. If you happen to own any clean energy stocks that are particularly beaten up, you have until around December 27 (check with your tax advisor) to effect some tax-loss trades. Selling a stock and cycling into a correlated ETF is recognized by the CRA (again, check with that advisor!). A way to right-size your portfolio but still get exposure to the clean energy investment themes that you want, and participate if there's a sudden and rapid recovery in the space.
Saw this similar strategy weeks ago with the bank stocks. If you have materials, look at XMA. If you own utilities, look at ZUT.