Virtus Reaves Utilities ETF (NYSEARCA:UTES) Short Interest Update

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 32,297 shares, a drop of 58.1% from the May 14th total of 77,062 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 389,115 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

Several institutional investors have recently bought and sold shares of UTES. JPMorgan Chase & Co. acquired a new position in Virtus Reaves Utilities ETF in the 3rd quarter valued at about $225,482,000. Janney Montgomery Scott LLC grew 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 valued at $7,133,000 after acquiring an additional 61,418 shares in the last quarter. Fifth Third Securities Inc. grew its position in Virtus Reaves Utilities ETF by 45.9% in the 4th quarter. Fifth Third Securities Inc. now owns 80,683 shares of the company’s stock valued at $6,370,000 after acquiring an additional 25,394 shares in the last quarter. NewEdge Advisors LLC grew its position in Virtus Reaves Utilities ETF by 787.7% in the 4th quarter. NewEdge Advisors LLC now owns 19,786 shares of the company’s stock valued at $1,562,000 after acquiring an additional 17,557 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC grew its position in Virtus Reaves Utilities ETF by 11.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 43,280 shares of the company’s stock valued at $3,417,000 after acquiring an additional 4,530 shares in the last quarter.

Virtus Reaves Utilities ETF Trading Up 0.8%

Shares of NYSEARCA:UTES opened at $77.64 on Friday. The business has a 50-day moving average price of $80.80 and a 200 day moving average price of $80.49. The company has a market capitalization of $1.46 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 $72.67 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.