ETF Outlook for Thursday, May 29, 2014
First Trust NASDAQ Clean Edge Index ETF (NASDAQ: QCLN)
Eight U.S. states plan to increase the number of electric vehicles on the road to 3.3 million by 2025, using a combination of incentives, dealer promotions, and an expansion of recharging stations. That would be a big jump from the current 200,000 vehicles.
Tesla Motors (NASDAQ: TSLA) could be the big winner as the country continues to move towards the widespread adoption of electric vehicles. TSLA makes up 7.5 percent of QCLN and is the second largest holding in the ETF.
The ETF is up five consecutive days and therefore could be set for a slowdown to end the week, but longer-term the ...
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