Virtus Reaves Utilities ETF (NYSEARCA:UTES) Short Interest Update

Virtus Reaves Utilities ETF (NYSEARCA:UTES) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 32,297 shares, a decline of 58.1% from the May 14th total of 77,062 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 389,115 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arkadios Wealth Advisors grew its position in shares of Virtus Reaves Utilities ETF by 4.2% during the first quarter. Arkadios Wealth Advisors now owns 12,882 shares of the company’s stock worth $1,029,000 after buying an additional 524 shares in the last quarter. Bartlett & CO. Wealth Management LLC acquired a new position in shares of Virtus Reaves Utilities ETF during the first quarter worth about $135,000. Sound Income Strategies LLC acquired a new position in shares of Virtus Reaves Utilities ETF during the first quarter worth about $37,000. Coston McIsaac & Partners acquired a new position in shares of Virtus Reaves Utilities ETF during the first quarter worth about $33,000. Finally, Janney Montgomery Scott LLC grew its position in shares of 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 buying an additional 61,418 shares in the last quarter.

Virtus Reaves Utilities ETF Price Performance

NYSEARCA UTES opened at $77.64 on Friday. The company has a market cap of $1.46 billion, a P/E ratio of 20.34 and a beta of 0.75. The stock has a 50-day moving average of $80.80 and a two-hundred day moving average of $80.49. Virtus Reaves Utilities ETF has a 1-year low of $72.67 and a 1-year high of $88.43.

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.