These are not go-go days for producers of fossil fuels. Not only are oil prices residing at multi-year lows, but coal is in the tank with several coal companies already declaring bankruptcy and perhaps more to follow.
Additionally, the “ex-fossil fuels” investment theme is gaining momentum. Socially responsible investing and the corresponding exchange-traded funds have, over time, notched mixed records of success. However, with investors and news observers hearing so much about global climate change in recent years, ETF issuers are bringing relevant products to market.
On Tuesday, State Street Global Advisors (SSgA), the third-largest U.S. issuer of ETFs, introduced the SPDR S&P 500 Fossil Fuel Free ETF (NYSE: SPYX).
A Closer Look At SPYX
The SPDR S&P 500 Fossil Fuel Free ETF is essentially an S&P 500 derivative product that, as its ...
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