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Why are Utilities down this week?
Posted on 11/7/19 at 11:08 am
Posted on 11/7/19 at 11:08 am
Vanguard Utilities ETF (VPU) has been a great performer this year. It is down about 3.5% this week and I was thinking about adding to my position. A quick google search shows some negative pub around Pacific G&E, but that's not a component of VPU. Natural gas prices are up a little but the curve is generally unchanged. Other defensive sectors (Healthcare, Communications) are up.
I'd like to buy on the dip but not without understanding what is driving it. Any thoughts?
I'd like to buy on the dip but not without understanding what is driving it. Any thoughts?
2
Posted on 11/7/19 at 11:16 am to Negatiger1986
Looks like NextEra (largest holding in the fund at ~10%) is the bad actor. They released earnings earlier this week. Still not seeing any news to explain today's drop off.
Posted on 11/7/19 at 11:31 am to Negatiger1986
Interest rates have shot up over the potential China tariffs deal. Utilities are very interest rate sensitive.
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