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

Virtus Reaves Utilities ETF (NYSEARCA:UTES) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 117,700 shares, an increase of 106.5% from the August 31st total of 57,000 shares. Based on an average daily trading volume, of 226,300 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 226,300 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On Virtus Reaves Utilities ETF

Several hedge funds and other institutional investors have recently modified their holdings of the company. Jaffetilchin Investment Partners LLC increased its holdings in shares of Virtus Reaves Utilities ETF by 5.0% during the first 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. Highline Wealth Partners LLC grew its holdings in Virtus Reaves Utilities ETF by 9.2% during the second quarter. Highline Wealth Partners LLC now owns 2,380 shares of the company’s stock worth $180,000 after buying an additional 200 shares in the last quarter. Private Trust Co. NA grew its holdings in Virtus Reaves Utilities ETF by 80.1% during the second quarter. Private Trust Co. NA now owns 843 shares of the company’s stock worth $64,000 after buying an additional 375 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Virtus Reaves Utilities ETF by 8.0% during the second quarter. Arkadios Wealth Advisors now owns 6,085 shares of the company’s stock worth $460,000 after buying an additional 449 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC grew its holdings in Virtus Reaves Utilities ETF by 1.7% during the second quarter. Steel Grove Capital Advisors LLC now owns 38,750 shares of the company’s stock worth $2,930,000 after buying an additional 639 shares in the last quarter.

Virtus Reaves Utilities ETF Stock Performance

Shares of NYSEARCA UTES traded down $0.02 during midday trading on Monday, hitting $85.04. 36,414 shares of the stock traded hands, compared to its average volume of 157,995. The company has a market cap of $1.17 billion, a PE ratio of 20.34 and a beta of 0.55. Virtus Reaves Utilities ETF has a one year low of $57.24 and a one year high of $86.40. The business has a 50 day moving average price of $81.11 and a two-hundred day moving average price of $74.06.

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.