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

Virtus Reaves Utilities ETF (NYSEARCA:UTES) saw a significant decrease in short interest in July. As of July 15th, there was short interest totaling 21,919 shares, a decrease of 65.5% from the June 30th total of 63,571 shares. Based on an average daily volume of 117,905 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

Several institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC purchased a new stake in Virtus Reaves Utilities ETF in the third quarter worth about $186,000. Nova Wealth Management Inc. increased its position in Virtus Reaves Utilities ETF by 4.7% during the 4th quarter. Nova Wealth Management Inc. now owns 8,002 shares of the company’s stock valued at $632,000 after purchasing an additional 357 shares during the period. Highline Wealth Partners LLC raised its holdings in shares of Virtus Reaves Utilities ETF by 10.2% in the 4th quarter. Highline Wealth Partners LLC now owns 2,823 shares of the company’s stock valued at $223,000 after purchasing an additional 262 shares in the last quarter. Valicenti Advisory Services Inc. raised its holdings in shares of Virtus Reaves Utilities ETF by 1.9% in the 4th quarter. Valicenti Advisory Services Inc. now owns 41,795 shares of the company’s stock valued at $3,300,000 after purchasing an additional 795 shares in the last quarter. Finally, Fiduciary Alliance LLC lifted its position in shares of Virtus Reaves Utilities ETF by 19.1% in the 4th quarter. Fiduciary Alliance LLC now owns 9,679 shares of the company’s stock worth $764,000 after purchasing an additional 1,550 shares during the period.

Virtus Reaves Utilities ETF Stock Performance

NYSEARCA UTES traded down $0.98 on Monday, reaching $81.05. 12,752 shares of the stock traded hands, compared to its average volume of 190,611. The company has a fifty day moving average price of $80.65 and a 200-day moving average price of $80.77. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 20.34 and a beta of 0.75. Virtus Reaves Utilities ETF has a 12 month low of $74.60 and a 12 month high of $88.43.

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.