Winds Of Change Could Blow For Wind ETFs Due To Chinese IPO (FAN, PWND)
Two ETFs tracking wind energy stocks could see some changes to their top holdings if China Longyuan Power Group's December IPO is a success.
The PowerShares Global Wind Energy ETF (Nasdaq: PWND) and the First Trust Global Wind Energy ETF (NYSE: FAN)may eventually add Longyuan Power to their holdings as the company has a 24% share of China's wind energy market.
Both PWND and FAN have turned in admirable performances in 2009, gaining 36% and 23% year-to-date, respectively, but both are thinly traded issues.
The Longyuan IPO is planned for December 10. The offering is expected to be worth as much as $2.2 billion.
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