Invesco WilderHill Clean Energy ETF [PBW] Stock Forecast

Renewable energy stocks have experienced a significant decline in recent months, lagging behind fossil fuel companies. This decline is primarily attributed to the impact of higher interest rates on the sector.

After a downbeat September, October too remained volatile for Wall Street due to higher rates.

Invesco WilderHill Clean Energy ETF primarily invests in U.S. public companies involved in cleaner energy and conservation. The PBW ETF has a diversified portfolio with holdings spread across various sectors and geographies. The current market conditions and recent underperformance make PBW a strong avoid for short-term investors, but long-term potential cannot be disregarded.

Hello! This is MarketWatch reporter Isabel Wang bringing you this week's ETF Wrap. In this week's edition, we look at ETFs in the nuclear energy sector, which has emerged as one of the best performing ETF themes this year, driven by a notable surge in uranium prices.

The Invesco WilderHill Clean Energy ETF tracks the Wilderhill Clean Energy index, focusing on companies developing renewable energy technologies and services. PBW has underperformed the broad market and has a high volatility with a Beta of 1.5, indicating a higher risk compared to the average ETF. The article concludes with a bearish view on PBW due to its exposure to small, growth-oriented stocks with unproven technologies and weak economic foundations.

Wall Street was upbeat last week. The S&P 500, the Dow Jones and the Nasdaq Composite advanced about 2.4%, 2% and 2.2%, respectively last week.

El Nino, a recurring weather phenomenon characterized by an abnormal warming of the Pacific Ocean, has been a topic of interest this year.

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The global energy crisis could continue to provide fodder for investors to capitalize on the transition to renewable energy sources. This could propel a pair of exchange traded funds (ETFs): the Invesco WilderHill Clean Energy ETF (PBW) and the Invesco Global Clean Energy ETF (PBD).

The organization announced unexpected production cuts for 2023 on Sunday.

Invesco WilderHill Clean Energy ETF is a US stock and trading under the symbol PBW

Invesco WilderHill Clean Energy ETF stock price is $27.28 today.

Yes, Invesco WilderHill Clean Energy ETF is a publicly traded company.