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

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 83,061 shares, a decline of 38.0% from the September 15th total of 134,030 shares. Based on an average daily volume of 154,667 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Virtus Reaves Utilities ETF

Institutional investors have recently modified their holdings of the stock. XP Advisory US Inc. purchased a new position in shares of Virtus Reaves Utilities ETF during the 2nd quarter worth about $11,384,000. Janney Montgomery Scott LLC raised its position in Virtus Reaves Utilities ETF by 220.5% in the 1st 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 bought a new stake in Virtus Reaves Utilities ETF in the third quarter worth about $3,205,000. Arkadios Wealth Advisors lifted 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, Fiduciary Alliance LLC grew its position in Virtus Reaves Utilities ETF by 3.2% in the 1st quarter. Fiduciary Alliance LLC now owns 9,989 shares of the company’s stock valued at $826,000 after acquiring an additional 310 shares during the last quarter.

Virtus Reaves Utilities ETF Stock Performance

Shares of Virtus Reaves Utilities ETF stock traded up $0.52 on Friday, hitting $75.88. 163,433 shares of the company traded hands, compared to its average volume of 189,128. The stock has a market capitalization of $1.21 billion, a P/E ratio of 20.34 and a beta of 0.74. Virtus Reaves Utilities ETF has a 52 week low of $69.45 and a 52 week high of $86.94. The business has a 50-day simple moving average of $74.31 and a 200 day simple moving average of $78.46.

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.