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TheStreet Open House

Dynegy Deal Lifts Utility ETFs

Stocks in this article: DYNXLUSOEXCIDUVPUTLTKWTBJK

NEW YORK ( TheStreet) -- Utility ETFs rose on Friday amid lackluster trading in stocks. Blackstone's buyout of Dynegy (DYN) and overall weakness in sentiment lifted demand.

The buyout of Dynegy by Blackstone sent the stock soaring nearly 60%, helping to lift other utility stocks. Uncertainty about economic growth also pushed investors towards the sector, traditionally viewed as safe-haven equity stocks because of their high dividend yield.

The Utilities Select Sector SPDR (XLU) is gaining 0.9%, with its top holdings Southern Company (SO) and Exelon Corp (EXC) gaining about 0.9% each.

Also gaining is the iShares Dow Jones US Utilities ETF (IDU), up 0.6% and the Vanguard Utilities Index (VPU) is up 0.7%.

Treasury ETFs continue to be popular with investors with the iShares Barclays 20+Year Treasury (TLT) gaining 1%. The 10-year bond yield slid to 2.704%.

Other ETFs gaining on Friday include the Market Vectors Gaming ETF (BJK) up 0.6% and Market Vector Solar ETF (KWT) up 0.5%.

-- Reported by Shanthi Venkataraman in New York.

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