Canadian Energy Trusts have been punished recently, but U.S. GDP growth is helping the sector recoup its losses on Thursday.

The U.S. GDP grew by 3.5% in the third quarter, signaling the end of the recession and sending stocks and commodities up across the board. More than three fourths of the Dow is in positive territory after a three-day sell-off, and some of the biggest winners are those that were beat up earlier in the week.

Oil-tied equities are among today's winners as the dollar takes a breather from its days-long rebound from 14-month lows. The Canadian Energy Trusts Index is a top performer, outperforming the S&P's rebound by more than 100 basis points.

While a nearly 2% jump in oil prices is lifting the entire sector, Provident Energy Trust (NYSE: PVX - News) is accelerating on news of an C$87 million asset sale. The company will unload its Lloydminster area oil and natural gas assets to privately held Emerge Oil & Gas for C$70 million in cash and C$17 million in equity, according to a press release issued Wednesday evening.

Harvest Energy Trust (NYSE: HTE - News) took another step closer to closing its acquisition by government owned Korea National Oil Corporation today, announcing that voting by unit holders will take place on December 15. Shares shot up by a third when the deal was announced, and pending shareholder approval, investors will lock in 45% gains over the last month.

The Index's heavyweights, Penn West Energy Trust (NYSE: PWE - News), Enerplus Resources Fund (NYSE: ERF - News), and Baytex Energy Trust (NYSE: BTE - News)are all up by 1.5% or more in the session.

Meanwhile, traders sent Enterra Energy Trust (NYSE: ENT - News) to its highest level since Monday, before retreating to a more modest 2% gain. Weighing in at under $100 million, the company is less than one tenth the size of Precision Drilling Trust (NYSE: PDS - News), the sector's next-smallest component.

As of this writing, the Canadian Energy Trusts Index is one of the top-5 performing tickerspy Indexes over the last month, despite remaining negative by -9% in the past week.

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