Virtus Reaves Utilities ETF (NYSEARCA:UTES) Short Interest Up 72.4% in May

Virtus Reaves Utilities ETF (NYSEARCA:UTES) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 101,900 shares, a growth of 72.4% from the May 15th total of 59,100 shares. Based on an average daily volume of 79,500 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.6% of the shares of the company are sold short.

Virtus Reaves Utilities ETF Trading Down 0.6%

UTES stock traded down $0.43 during mid-day trading on Friday, hitting $73.46. The stock had a trading volume of 110,444 shares, compared to its average volume of 82,705. The firm has a fifty day simple moving average of $68.86 and a 200 day simple moving average of $67.35. The firm has a market capitalization of $477.49 million, a P/E ratio of 21.65 and a beta of 0.71. Virtus Reaves Utilities ETF has a 52 week low of $51.21 and a 52 week high of $75.18.

Institutional Trading of Virtus Reaves Utilities ETF

A number of hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors boosted its position in shares of Virtus Reaves Utilities ETF by 46.7% during the 1st quarter. Arkadios Wealth Advisors now owns 5,636 shares of the company’s stock valued at $364,000 after purchasing an additional 1,794 shares in the last quarter. Old Port Advisors bought a new position in shares of Virtus Reaves Utilities ETF during the 1st quarter worth approximately $956,000. Fifth Third Securities Inc. grew its position in shares of Virtus Reaves Utilities ETF by 13.1% during the 1st quarter. Fifth Third Securities Inc. now owns 18,934 shares of the company’s stock worth $1,223,000 after buying an additional 2,187 shares during the period. Jaffetilchin Investment Partners LLC increased its stake in shares of Virtus Reaves Utilities ETF by 5.0% in the 1st quarter. Jaffetilchin Investment Partners LLC now owns 4,051 shares of the company’s stock valued at $262,000 after acquiring an additional 194 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC increased its stake in shares of Virtus Reaves Utilities ETF by 37.5% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 38,111 shares of the company’s stock valued at $2,462,000 after acquiring an additional 10,397 shares in the last quarter.

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.