NEW YORK (
TheStreet) -- Utility ETFs rose on Friday amid lackluster trading in stocks. Blackstone's buyout of
(DYN - Get Report) 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.
Utilities Select Sector SPDR
(XLU) is gaining 0.9%, with its top holdings
(SO - Get Report) and
(EXC - Get Report) 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
gaining 1%. The 10-year bond yield slid to 2.704%.
Other ETFs gaining on Friday include the
Market Vectors Gaming ETF
up 0.6% and
Market Vector Solar ETF
-- Reported by Shanthi Venkataraman in New York.
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