NEW YORK (
) -- Utility ETFs rose on Friday amid lackluster trading in stocks. Blackstone's buyout of
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
is gaining 0.9%, with its top holdings
gaining about 0.9% each.
Also gaining is the
iShares Dow Jones US Utilities ETF
, up 0.6% and the
Vanguard Utilities Index
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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