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

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 134,030 shares, an increase of 211.9% from the August 31st total of 42,968 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 187,243 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

A number of hedge funds have recently bought and sold shares of the business. XP Advisory US Inc. acquired a new stake in shares of Virtus Reaves Utilities ETF in the second quarter worth approximately $11,384,000. Arkadios Wealth Advisors raised its stake in Virtus Reaves Utilities ETF by 4.2% in the 1st quarter. Arkadios Wealth Advisors now owns 12,882 shares of the company’s stock valued at $1,029,000 after purchasing an additional 524 shares during the last quarter. Bartlett & CO. Wealth Management LLC purchased a new position in Virtus Reaves Utilities ETF in the 1st quarter valued at $135,000. Sound Income Strategies LLC purchased a new position in Virtus Reaves Utilities ETF in the 1st quarter valued at $37,000. Finally, Coston McIsaac & Partners acquired a new stake in Virtus Reaves Utilities ETF during the 1st quarter worth $33,000.

Virtus Reaves Utilities ETF Stock Performance

Shares of UTES traded up $0.46 during trading hours on Friday, hitting $70.29. The stock had a trading volume of 109,896 shares, compared to its average volume of 186,150. The firm has a 50-day moving average price of $75.74 and a 200 day moving average price of $79.15. Virtus Reaves Utilities ETF has a fifty-two week low of $69.45 and a fifty-two week high of $88.43. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 20.34 and a beta of 0.74.

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.