Virtus Reaves Utilities ETF (NYSEARCA:UTES) Sees Large Decrease in Short Interest

Virtus Reaves Utilities ETF (NYSEARCA:UTES) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 83,061 shares, a drop of 38.0% from the September 15th total of 134,030 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average trading volume of 154,667 shares, the days-to-cover ratio is presently 0.5 days.

Virtus Reaves Utilities ETF Price Performance

Virtus Reaves Utilities ETF stock traded up $0.52 during mid-day trading on Friday, reaching $75.88. The stock had a trading volume of 163,433 shares, compared to its average volume of 189,128. Virtus Reaves Utilities ETF has a one year low of $69.45 and a one year high of $86.94. The company has a 50-day moving average price of $74.31 and a two-hundred day moving average price of $78.46. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 20.34 and a beta of 0.74.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Steel Grove Capital Advisors LLC bought a new stake in Virtus Reaves Utilities ETF during the third quarter valued at approximately $3,205,000. Roxbury Financial LLC bought a new position in Virtus Reaves Utilities ETF in the third quarter worth approximately $120,000. XP Advisory US Inc. purchased a new position in shares of Virtus Reaves Utilities ETF during the 2nd quarter worth $11,384,000. Arkadios Wealth Advisors boosted its stake in shares of Virtus Reaves Utilities ETF by 4.2% during the 1st quarter. Arkadios Wealth Advisors now owns 12,882 shares of the company’s stock worth $1,029,000 after acquiring an additional 524 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC purchased a new position in shares of Virtus Reaves Utilities ETF during the 1st quarter worth $135,000.

Virtus Reaves Utilities ETF Company Profile

The Virtus Reaves Utilities ETF (UTES) is an exchange-traded fund that is based on the S&P Utilities Select Sector index. The fund is an actively managed ETF that holds US utility stocks. UTES’ managers aim to outperform the sector by selecting and weighting stocks based on fundamental, growth and risk metrics. UTES was launched on Sep 23, 2015 and is managed by Virtus.