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

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the target of a large decrease in short interest in the month of January. As of January 30th, there was short interest totaling 45,789 shares, a decrease of 67.5% from the January 15th total of 140,879 shares. Currently, 0.3% of the company’s shares are short sold. Based on an average daily volume of 263,084 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 263,084 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.3% of the company’s shares are short sold.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new stake in shares of Virtus Reaves Utilities ETF during the 3rd quarter worth approximately $225,482,000. Valicenti Advisory Services Inc. bought a new stake in Virtus Reaves Utilities ETF in the third quarter valued at $3,421,000. Fifth Third Securities Inc. raised its holdings in shares of Virtus Reaves Utilities ETF by 45.9% during the fourth quarter. Fifth Third Securities Inc. now owns 80,683 shares of the company’s stock valued at $6,370,000 after purchasing an additional 25,394 shares during the period. Transcendent Capital Group LLC bought a new position in shares of Virtus Reaves Utilities ETF during the 3rd quarter worth about $1,866,000. Finally, Fiduciary Alliance LLC acquired a new stake in shares of Virtus Reaves Utilities ETF in the 3rd quarter valued at about $678,000.

Virtus Reaves Utilities ETF Trading Up 0.4%

UTES stock traded up $0.30 during midday trading on Wednesday, hitting $79.24. The stock had a trading volume of 68,313 shares, compared to its average volume of 264,255. The firm has a market cap of $1.44 billion, a P/E ratio of 20.34 and a beta of 0.73. The business has a fifty day moving average price of $78.82 and a two-hundred day moving average price of $81.09. Virtus Reaves Utilities ETF has a 1-year low of $57.24 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.