Virtus Reaves Utilities ETF (NYSEARCA:UTES) Short Interest Up 133.2% in February

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 115,467 shares, a growth of 133.2% from the February 12th total of 49,511 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily volume of 204,304 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 204,304 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.6% of the shares of the company are sold short.

Virtus Reaves Utilities ETF Price Performance

Shares of NYSEARCA UTES opened at $80.43 on Thursday. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 20.34 and a beta of 0.73. The stock’s fifty day moving average price is $80.33 and its two-hundred day moving average price is $81.39. Virtus Reaves Utilities ETF has a one year low of $57.24 and a one year high of $88.43.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

Several institutional investors and hedge funds have recently modified their holdings of UTES. JPMorgan Chase & Co. bought a new position in Virtus Reaves Utilities ETF during the third quarter worth about $225,482,000. Valicenti Advisory Services Inc. acquired a new position in shares of Virtus Reaves Utilities ETF during the 3rd quarter worth approximately $3,421,000. Fifth Third Securities Inc. grew its position in shares of Virtus Reaves Utilities ETF by 45.9% during the 4th quarter. Fifth Third Securities Inc. now owns 80,683 shares of the company’s stock worth $6,370,000 after purchasing an additional 25,394 shares in the last quarter. Transcendent Capital Group LLC bought a new position in shares of Virtus Reaves Utilities ETF during the third quarter worth approximately $1,866,000. Finally, NewEdge Advisors LLC raised its position in shares of Virtus Reaves Utilities ETF by 787.7% in the fourth quarter. NewEdge Advisors LLC now owns 19,786 shares of the company’s stock valued at $1,562,000 after buying an additional 17,557 shares in the last quarter.

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.