Utility Sector Index - Investment & Finance Definition
A benchmark index used in the utilities industry that was created and is traded on the Philadelphia Stock Exchange. Its trading symbol is UTY, and often that name is used. The Utility Sector Index is a capitalization-weighted index composed of 20 geographically diverse public utility stocks listed on the New York Stock Exchange. The UTY was set to an initial value of 200 on May 1, 1987. Options began trading on September 22, 1987.