Virtus Reaves Utilities ETF (NYSEARCA:UTES) Stock Short Interest Declines 38.0%

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 83,061 shares, a decrease of 38.0% from the September 15th total of 134,030 shares. Based on an average trading volume of 154,667 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UTES. XP Advisory US Inc. purchased a new stake in shares of Virtus Reaves Utilities ETF during the 2nd quarter worth about $11,384,000. Janney Montgomery Scott LLC grew its stake in shares of 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 buying an additional 61,418 shares in the last quarter. Steel Grove Capital Advisors LLC acquired a new position in Virtus Reaves Utilities ETF in the third quarter worth approximately $3,205,000. Arkadios Wealth Advisors increased its holdings in Virtus Reaves Utilities ETF by 4.2% in the first quarter. Arkadios Wealth Advisors now owns 12,882 shares of the company’s stock worth $1,029,000 after buying an additional 524 shares during the last quarter. Finally, Fiduciary Alliance LLC increased its holdings in Virtus Reaves Utilities ETF by 3.2% in the first quarter. Fiduciary Alliance LLC now owns 9,989 shares of the company’s stock worth $826,000 after buying an additional 310 shares during the last quarter.

Virtus Reaves Utilities ETF Stock Performance

Shares of NYSEARCA:UTES traded up $0.84 during midday trading on Friday, hitting $76.20. 201,048 shares of the stock were exchanged, compared to its average volume of 189,426. The company has a market capitalization of $1.18 billion, a PE ratio of 20.34 and a beta of 0.74. Virtus Reaves Utilities ETF has a 52-week low of $69.45 and a 52-week high of $86.94. The business’s fifty day simple moving average is $74.30 and its two-hundred day simple moving average is $78.44.

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.