Virtus Reaves Utilities ETF (NYSEARCA:UTES) Short Interest Down 37.8% in December

Virtus Reaves Utilities ETF (NYSEARCA:UTES) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totaling 124,700 shares, a decrease of 37.8% from the November 30th total of 200,641 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average trading volume of 167,234 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 167,234 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.8% of the shares of the company are sold short.

Virtus Reaves Utilities ETF Price Performance

Shares of Virtus Reaves Utilities ETF stock traded up $0.10 on Tuesday, reaching $79.58. The company had a trading volume of 160,223 shares, compared to its average volume of 173,568. The firm’s 50-day moving average price is $81.66 and its two-hundred day moving average price is $80.44. Virtus Reaves Utilities ETF has a 1 year low of $57.24 and a 1 year high of $88.43. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 20.34 and a beta of 0.73.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in UTES. NewEdge Advisors LLC acquired a new stake in shares of Virtus Reaves Utilities ETF in the third quarter valued at approximately $186,000. Cary Street Partners Financial LLC bought a new position in Virtus Reaves Utilities ETF during the 3rd quarter valued at $202,000. Thoroughbred Financial Services LLC lifted its stake in Virtus Reaves Utilities ETF by 3.3% during the third quarter. Thoroughbred Financial Services LLC now owns 3,991 shares of the company’s stock valued at $333,000 after buying an additional 127 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Virtus Reaves Utilities ETF during the 3rd quarter valued at $225,482,000. Finally, Transcendent Capital Group LLC acquired a new stake in Virtus Reaves Utilities ETF in the 3rd quarter worth approximately $1,866,000.

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.