Economic slowdown jitters are driving investors to a sector that has little potential for gains, according to National Securities’ Art Hogan.
Art Hogan is concerned that jitters over an economic slowdown are driving investors to a group with little potential for gains.
"I get nervous when they trade at the multiples they're trading at right now," Hogan said Monday on CNBC's"Trading Nation." The Utilities Select Sector SPDR Fund, an ETF that tracks the group, has risen 11 percent this year and over the past 12 months by 20 percent versus 8 percent for the broader S&P 500 index."Their dividend yield is actually too low for an entry point," he said."I'd be careful with the valuations."
Hogan believes he has a better strategy for investors who want to protect their portfolios: technology.
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