Virtus Reaves Utilities ETF (NYSEARCA:UTES) Sees Large Decline in Short Interest

Virtus Reaves Utilities ETF (NYSEARCA:UTES) saw a significant decline in short interest in July. As of July 15th, there was short interest totaling 21,919 shares, a decline of 65.5% from the June 30th total of 63,571 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 117,905 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On Virtus Reaves Utilities ETF

Hedge funds have recently made changes to their positions in the stock. Coston McIsaac & Partners bought a new stake in Virtus Reaves Utilities ETF during the first quarter valued at about $33,000. Sound Income Strategies LLC bought a new position in Virtus Reaves Utilities ETF in the first quarter worth about $37,000. Bartlett & CO. Wealth Management LLC bought a new position in Virtus Reaves Utilities ETF in the first quarter worth about $135,000. NewEdge Advisors LLC purchased a new stake in shares of Virtus Reaves Utilities ETF during the third quarter valued at about $186,000. Finally, Highline Wealth Partners LLC lifted its position in shares of Virtus Reaves Utilities ETF by 10.2% during the fourth quarter. Highline Wealth Partners LLC now owns 2,823 shares of the company’s stock valued at $223,000 after buying an additional 262 shares during the last quarter.

Virtus Reaves Utilities ETF Stock Performance

Virtus Reaves Utilities ETF stock traded down $0.98 during mid-day trading on Monday, reaching $81.05. 12,752 shares of the company were exchanged, compared to its average volume of 190,611. The firm has a market cap of $1.39 billion, a P/E ratio of 20.34 and a beta of 0.75. The business has a fifty day moving average of $80.65 and a 200 day moving average of $80.77. Virtus Reaves Utilities ETF has a 12-month low of $74.60 and a 12-month high of $88.43.

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.