Solar ETF (TAN) Takes a Break after Wild First Solar (FSLR) Run-Up

After jumping nearly 15 percent Tuesday on the back of surprisingly upbeat guidance from First Solar (NASDAQ: FSLR), solar ETF Guggenheim Solar (NYSE: TAN) is lagging Wednesday.

First Solar is the ETF's biggest holding, representing 14.2 percent of the fund. After jumping 45 percent yesterday on the upbeat guidance and short covering, First Solar is giving back 6 percent today on downbeat analyst commentary.

Analysts at Jefferies said the guidance increase at First Solar is largely a revenue pull-in from 2015 on a change in accounting. Others said the upside was largely priced in and now execution will be crucial.

Guggenheim Solar (NYSE: TAN) last traded at 17.84, down 1.2 percent. The solar sector ETF is up 14 percent from the start of the year.

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