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5 Big Investors Betting on Hydrogen Stocks

  • Hydrogen stocks are sinking lower following Senator Joe Manchin's disapproval of climate and energy programs.
  • Still, many hydrogen companies are backed by reputable institutional investors.
  • These institutional investors include BlackRock (NYSE:BLK) and Vanguard, among others.
Hydrogen stocks - 5 Big Investors Betting on Hydrogen Stocks

Source: Shutterstock

Hydrogen stocks are down across the board today following the announcement that Senator Joe Manchin was against funding federal climate and energy programs. The Senate is evenly divided between Democrats and Republicans, so Manchin holds a pivotal vote. His disapproval comes after months of negotiation with Senate Majority Leader Chuck Schumer. He cited increased federal spending as a driver of inflation.

Democrats were seeking to pass the climate and energy programs package before the midterm elections. Now, it appears those hopes have been erased, which has caused hydrogen stocks to decline.

Still, many hydrogen companies are backed by large, reputable institutional investors. Let’s get into the details.

5 Big Investors Betting on Hydrogen Stocks

  1. Plug Power (NASDAQ:PLUG): BlackRock (NYSE:BLK), the world’s largest asset management firm, is also the largest shareholder of PLUG stock. BlackRock owns a total of 58.14 million shares. During the first quarter, the firm purchased an additional 7.64 million shares. BlackRock carries an average holding period of 23.96 quarters. As a result, investors can assume the firm plans to hold PLUG for the long run. The second- and third-largest shareholders of PLUG stock are Grove Energy Capital and Vanguard.
  2. Bloom Energy (NYSE:BE): Ameriprise Financial (NYSE:AMP) is the largest shareholder of BE stock. The financial services company owns a total of 21.47 million shares and purchased 828,317 shares during Q1. In addition, Ameriprise is a long-term investor and has an average holding period of 35.84 quarters, or just under nine years. The second- and third-largest shareholders of BE are BlackRock and Vanguard.
  3. FuelCell Energy (NASDAQ:FCEL): Like with Plug Power, BlackRock is also the largest shareholder of FuelCell Energy. During Q1, the firm purchased an additional 3.64 million shares, bringing its total stake to 37.99 million shares. The second- and third-largest shareholders of FCEL are Vanguard and State Street.
  4. Air Products and Chemicals (NYSE:APD): Vanguard takes home first place as the largest shareholder of APD. The investment advisory firm first purchased shares in 2002 and now owns a total of 19.96 million. During Q1, Vanguard purchased an additional 326,891 shares. Like BlackRock, Vanguard operates as a long-term investor and has an average holding period of 39.19 quarters, or 9.8 years.
  5. Direxion Hydrogen ETF (NYSEARCA:HJEN): UBS (NYSE:UBS) is the largest shareholder of the HJEN exchange-traded fund (ETF) with a 250,352 share stake. However, the bank sold off 2,286 shares during Q1. The three largest holdings in the ETF are Air Liquide (OTCMKTS:AIQUF), Air Products and Chemicals and Air Water (OTCMKTS:AWTRF).

On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Eddie Pan specializes in institutional investments and insider activity. He writes for InvestorPlace’s Today’s Market team, which centers on the latest news involving popular stocks.


Article printed from InvestorPlace Media, https://investorplace.com/2022/07/5-big-investors-betting-on-hydrogen-stocks/.

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