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

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

Virtus Reaves Utilities ETF Price Performance

Shares of NYSEARCA UTES opened at $80.43 on Thursday. The business has a fifty day moving average price of $80.33 and a two-hundred day moving average price of $81.39. The stock has a market capitalization of $1.46 billion, a PE ratio of 20.34 and a beta of 0.73. Virtus Reaves Utilities ETF has a fifty-two week low of $57.24 and a fifty-two week high of $88.43.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of UTES. Jones Financial Companies Lllp acquired a new stake in Virtus Reaves Utilities ETF during the third quarter worth about $28,000. NewEdge Advisors LLC acquired a new position in shares of Virtus Reaves Utilities ETF in the 3rd quarter valued at approximately $186,000. Cary Street Partners Financial LLC acquired a new position in shares of Virtus Reaves Utilities ETF in the 3rd quarter valued at approximately $202,000. Highline Wealth Partners LLC lifted its holdings in shares of Virtus Reaves Utilities ETF by 7.6% during the 3rd quarter. Highline Wealth Partners LLC now owns 2,561 shares of the company’s stock worth $214,000 after acquiring an additional 181 shares during the period. Finally, Western Wealth Management LLC acquired a new stake in shares of Virtus Reaves Utilities ETF during the 4th quarter worth approximately $247,000.

About Virtus Reaves Utilities ETF

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.