Virtus Reaves Utilities ETF (NYSEARCA:UTES) Sees Significant Growth in Short Interest

Virtus Reaves Utilities ETF (NYSEARCA:UTES) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 42,968 shares, an increase of 66.2% from the August 15th total of 25,857 shares. Based on an average trading volume of 183,810 shares, the short-interest ratio is currently 0.2 days. Currently, 0.3% of the shares of the stock are short sold.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

Institutional investors have recently added to or reduced their stakes in the business. XP Advisory US Inc. bought a new position in Virtus Reaves Utilities ETF in the second quarter worth approximately $11,384,000. Janney Montgomery Scott LLC boosted its position in Virtus Reaves Utilities ETF by 220.5% during the first quarter. Janney Montgomery Scott LLC now owns 89,268 shares of the company’s stock worth $7,133,000 after purchasing an additional 61,418 shares during the period. Steel Grove Capital Advisors LLC raised its holdings in Virtus Reaves Utilities ETF by 11.7% during the 4th quarter. Steel Grove Capital Advisors LLC now owns 43,280 shares of the company’s stock valued at $3,417,000 after acquiring an additional 4,530 shares during the period. Arkadios Wealth Advisors grew its holdings in Virtus Reaves Utilities ETF by 4.2% during the 1st quarter. Arkadios Wealth Advisors now owns 12,882 shares of the company’s stock valued at $1,029,000 after buying an additional 524 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its stake in Virtus Reaves Utilities ETF by 3.2% during the first quarter. Fiduciary Alliance LLC now owns 9,989 shares of the company’s stock valued at $826,000 after buying an additional 310 shares during the period.

Virtus Reaves Utilities ETF Trading Up 0.2%

UTES opened at $71.92 on Thursday. The company has a market cap of $1.23 billion, a P/E ratio of 20.34 and a beta of 0.74. Virtus Reaves Utilities ETF has a 1-year low of $71.54 and a 1-year high of $88.43. The company’s 50 day moving average is $77.16 and its 200-day moving average is $79.74.

About Virtus Reaves Utilities ETF

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.