NEW YORK ( TheStreet) -- Investors had been flocking into utility stocks, for the dividend yield, since the stock market lows of March 2009. I became concerned about the sustainability of the uptrend for the Dow Jones Utilities since July 30, when I wrote Consider Taking Profits on Utility Stocks .On July 30, I profiled the Utilities Select Sector SPDR (XLU), which then had a dividend yield of 3.6% versus a yield of 1.553% on the U.S. Treasury 10-year note. Today the dividend yield on XLU is 3.49% and despite the QE3 initiatives announced by the Federal Reserve on Sept.12, the yield on the U.S. Treasury 10-year note is up to 1.691% this morning.
Utility Stocks Take It on the Chin
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