Virtus Reaves Utilities ETF (NYSEARCA:UTES) Stock Short Interest Jumps 211.9%

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 134,030 shares, an increase of 211.9% from the August 31st total of 42,968 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 187,243 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Virtus Reaves Utilities ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. XP Advisory US Inc. acquired a new position in shares of Virtus Reaves Utilities ETF in the 2nd quarter valued at $11,384,000. Janney Montgomery Scott LLC grew its holdings in shares of Virtus Reaves Utilities ETF by 220.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 89,268 shares of the company’s stock worth $7,133,000 after purchasing an additional 61,418 shares during the period. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Virtus Reaves Utilities ETF during the 1st quarter worth about $135,000. Cary Street Partners Financial LLC raised its holdings in Virtus Reaves Utilities ETF by 31.0% in the 4th quarter. Cary Street Partners Financial LLC now owns 3,170 shares of the company’s stock valued at $250,000 after buying an additional 750 shares during the period. Finally, Thoroughbred Financial Services LLC raised its holdings in Virtus Reaves Utilities ETF by 13.8% in the 4th quarter. Thoroughbred Financial Services LLC now owns 4,543 shares of the company’s stock valued at $358,000 after buying an additional 552 shares during the period.

Virtus Reaves Utilities ETF Price Performance

UTES traded up $0.46 during trading hours on Friday, reaching $70.29. The company’s stock had a trading volume of 109,896 shares, compared to its average volume of 186,150. Virtus Reaves Utilities ETF has a fifty-two week low of $69.45 and a fifty-two week high of $88.43. The stock has a market cap of $1.14 billion, a PE ratio of 20.34 and a beta of 0.74. The business’s 50-day moving average is $75.74 and its 200-day moving average is $79.15.

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.