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

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 42,968 shares, a growth of 66.2% from the August 15th total of 25,857 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 183,810 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Virtus Reaves Utilities ETF

Several hedge funds and other institutional investors have recently made changes to their positions in UTES. Coston McIsaac & Partners purchased a new stake in shares of Virtus Reaves Utilities ETF in the first quarter worth $33,000. Sound Income Strategies LLC bought a new stake in Virtus Reaves Utilities ETF in the 1st quarter worth about $37,000. Bartlett & CO. Wealth Management LLC purchased a new position in Virtus Reaves Utilities ETF in the 1st quarter worth about $135,000. Cary Street Partners Financial LLC lifted its stake in Virtus Reaves Utilities ETF by 31.0% during the 4th quarter. Cary Street Partners Financial LLC now owns 3,170 shares of the company’s stock valued at $250,000 after acquiring an additional 750 shares during the period. Finally, Thoroughbred Financial Services LLC raised its holdings in shares of Virtus Reaves Utilities ETF by 13.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 4,543 shares of the company’s stock valued at $358,000 after purchasing an additional 552 shares during the last quarter.

Virtus Reaves Utilities ETF Stock Up 0.2%

NYSEARCA:UTES opened at $71.92 on Thursday. Virtus Reaves Utilities ETF has a twelve month low of $71.54 and a twelve month high of $88.43. The firm’s fifty day simple moving average is $77.16 and its 200 day simple moving average is $79.74. The stock has a market cap of $1.23 billion, a P/E 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.