ICLN: Clean Energy Stocks Breakout, Eye H2 2021 Highs

yangna Clean energy got a tailwind from the Inflation Reduction Act of 2022 (IRA) news late last month. The proposal, backed by the suddenly unpredictable Senator Manchin (D-WV) and Senator Schumer (D-NY) provides tax credits and incentives to many alternative energy companies domiciled in the United States. While this is certainly positive news for stocks in that space, price action had been strong even before last Wednesday night’s surprising bill. According to iShares, the iShares Global Clean Energy ETF (NASDAQ:ICLN) seeks to track the investment results of an index composed of global equities in the clean energy sector. The ETF features an expense ratio of 0.42% while its trailing 12-month dividend yield is 1.2%, according to Morningstar. ICLN’s P/E ratio is 28. ICLN X-Ray: High Growth, High Volatility Fund Morningstar The industry had been quite unloved by Wall Street and money…

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