NEW YORK (
) -- Investors are flocking to safe-haven equity options such as utility ETFs and dividend yield ETFs on Monday amid market volatility. Early enthusiasm over a spate of merger announcements gave way to concerns about the economy by mid-day, leading to sideways movement in the benchmark indices.
Utilities HOLDRS ETF
is rising 1%. The fund's biggest exposure is
, up nearly 1% and 0.9% respectively.
Utilities Select Sector SPDR
iShares Dow Jones U.S. Utility ETF
are also gaining.
Claymore/Sabrient Defensive Equity ETF
is gaining 0.7% and offers exposure to stocks such as
First Trust DB Strategic Value ETF
WisdomTree Total Dividend ETF
are also rising 1.1% and 0.6% respectively.
Treasury ETFs are lower on Monday, ending a winning streak from the past several trading sessions. The
United States Oil Fund
was lower by 1.3% as oil prices slipped below $73 a barrel on weak economic outlook.
-- Reported by Shanthi Venkataraman in New York.
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