Utilities ETF gains 1.5%
After dropping 2.4% the previous week, the Select Sector Utilities Select Sector SPDR Fund (XLU) gained 1.5% during the week ending April 2, 2015. Yields across maturities dropped during the week due to the geopolitical scenario and weak economic indicators.
While most power utilities (XLU) gained during the last week, five saw their stock prices drop. ITC Holdings (ITC) lost 2.4% to finish at $36.41 with a market capitalization of $5.7 billion. ITC Holdings is the largest independent electricity transmission company, and it operates in seven US states.
Hawaiian Electric Industries (HE) lost 1.3% to close the week at $31.93 with a market capitalization of $3.4 billion. HE is the largest supplier of electricity in the state of Hawaii, with a 95% market share.
NRG Energy (NRG), which was among the top losers last week, continued to be pressured. It lost 0.9%, finishing at $23.99 with a market capitalization of $8.1 billion.
ALLETE (ALE), a Minnesota-based power utility that provides power to the upper Midwest was down marginally, finishing at $52.36 with a market capitalization of $2.5 billion.
Public Services Enterprises Group (PEG) lost a cent to end the week at $41.33.