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Dynegy Deal Lifts Utility ETFs

NEW YORK ( TheStreet) -- Utility ETFs rose on Friday amid lackluster trading in stocks. Blackstone's buyout of Dynegy (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.

The Utilities Select Sector SPDR (XLU) is gaining 0.9%, with its top holdings Southern Company (SO - Get Report) and Exelon Corp (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 (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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Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

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SYM TRADE IT LAST %CHG
IDU $111.05 -0.41%
TLT $122.62 -0.10%
BJK $37.61 0.91%
KWT $82.34 -1.09%
XLU $44.34 -0.29%

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