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April Begins with Only 5 Losers in the Power Utilities Sector



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.

During the same period, the broad-based SPDR S&P 500 ETF Trust (SPY) gained 0.3%. SPY is a key ETF tracking the S&P 500 benchmark index. The iShares Core S&P 500 ETF (IVV) also tracks the S&P 500.

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ITC Holdings

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.

Other losers

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.


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