MAC Indexing LLC has introduced the MAC Global Solar Energy Index, the first index to independently track the solar energy sector. Dow Jones will publish the index, which has been licensed to Claymore Advisors LLC. Claymore anticipates launching the first solar power exchange-traded fund on the NYSE-Arca under the symbol TAN this month.
‘The creation of the MAC Global Solar Energy Index recognizes the growth of the solar sector and its maturing in terms of investment depth,’ says Christopher C. Melvin Jr., chairman and CEO of Melvin & Co., MAC Indexing's parent.
A global portfolio of 25 leading solar companies with a combined market capitalization of nearly $100 billion constitute the index. The average market capitalization of the stocks in the index is approximately $3.8 billion, and the median is approximately $1.2 billion.