New Energy Index -NEX- Weekly Update

Posted by Tim

February 20, 2008

I follow the NEX to track the results for the PowerShares Global Clean Energy Fund (PBD: 10.645 -0.135 -1.25%). This ETF is my choice for investing in the renewable energy sector. New Energy Finance, the managers of the index, release weekly performance number (through the previous Friday) and I pass along some of the facts here.

Last week was positive for the NEX, up 4.9%. The NASDAQ and S&P 500 were flat for the week. Power storage was the top sector, up 9.4%. Hydogen and fuel cell developers lagged with a 0.2% gain. Notable was wind energy, 13 of 15 companies were gainers, but Zoltek (see below) trimmed the sector’s gain to 3.5%.

Here are the winners and losers for the week:

NEX top gainers since 12/02/08
Renewable Energy Corp REC + 28.3%
Sanyo Electric 6764 + 25.2%
SolarWorld SWV + 24.8%
Q-Cells QCE + 21.9%
ErSol Solar Energy ES6 + 21.4%

NEX top losers since 12/02/08
Zoltek ZOLT - 20.7%
Ultralife Batteries ULBI - 13.5%
International Rectifier Corp IRF - 9.1%
Solaria Energia y Medio Ambiente SLR - 6.1%
Plug Power PLUG - 5.8%

Note: I currently do not have a position in PBD.