Utilities Obliterated as Potential for Higher Dividend Taxes Cause Revaluation « Market Montage

We are seeing a pretty astonishing selloff in the "conservative" utilities space – the ETF for the group is down some 7% already this month. The relative strength index is down to mid 20s.  All of 2012's gains (and more) have been reversed.  It would appear that the fears of a more normalized dividend tax rate as part of 2013's budget would be the culprit here…

Disclosure Notice

Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund's holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/index.php/the-fund/holdings