Short Interest in Virtus Reaves Utilities ETF (NYSEARCA:UTES) Decreases By 33.2%

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the recipient of a large decrease in short interest in March. As of March 13th, there was short interest totaling 77,141 shares, a decrease of 33.2% from the February 26th total of 115,467 shares. Based on an average trading volume of 160,784 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.4% of the company’s stock are short sold.

Virtus Reaves Utilities ETF Trading Down 0.5%

Shares of UTES traded down $0.43 during trading hours on Monday, reaching $79.81. 216,563 shares of the stock traded hands, compared to its average volume of 227,583. The stock has a fifty day simple moving average of $80.62 and a 200 day simple moving average of $81.51. Virtus Reaves Utilities ETF has a 52 week low of $57.24 and a 52 week high of $88.43. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 20.34 and a beta of 0.73.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

Several institutional investors have recently modified their holdings of the business. Fifth Third Securities Inc. boosted its position in Virtus Reaves Utilities ETF by 41.9% in the third quarter. Fifth Third Securities Inc. now owns 55,289 shares of the company’s stock worth $4,613,000 after purchasing an additional 16,339 shares during the last quarter. Fiduciary Alliance LLC purchased a new position in shares of Virtus Reaves Utilities ETF in the 3rd quarter worth about $678,000. Valicenti Advisory Services Inc. purchased a new position in shares of Virtus Reaves Utilities ETF in the 3rd quarter worth about $3,421,000. Transcendent Capital Group LLC bought a new position in Virtus Reaves Utilities ETF during the third quarter valued at about $1,866,000. Finally, JPMorgan Chase & Co. bought a new position in Virtus Reaves Utilities ETF during the third quarter valued at about $225,482,000.

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.