Virtus Reaves Utilities ETF (NYSEARCA:UTES) Short Interest Down 65.5% in July

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

Virtus Reaves Utilities ETF Stock Down 2.1%

UTES traded down $1.67 during midday trading on Tuesday, reaching $78.78. 209,377 shares of the company’s stock were exchanged, compared to its average volume of 191,555. The business has a 50-day simple moving average of $80.76 and a two-hundred day simple moving average of $80.79. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 20.34 and a beta of 0.75. Virtus Reaves Utilities ETF has a one year low of $74.60 and a one year high of $88.43.

Hedge Funds Weigh In On Virtus Reaves Utilities ETF

Several hedge funds and other institutional investors have recently modified their holdings of UTES. Fifth Third Securities Inc. grew its position in Virtus Reaves Utilities ETF by 45.9% in the fourth quarter. Fifth Third Securities Inc. now owns 80,683 shares of the company’s stock valued at $6,370,000 after acquiring an additional 25,394 shares during the period. Janney Montgomery Scott LLC raised its stake in Virtus Reaves Utilities ETF by 220.5% during the first quarter. Janney Montgomery Scott LLC now owns 89,268 shares of the company’s stock worth $7,133,000 after acquiring an additional 61,418 shares in the last quarter. Highline Wealth Partners LLC raised its stake in 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 worth $223,000 after acquiring an additional 262 shares in the last quarter. Nova Wealth Management Inc. lifted its holdings in shares of Virtus Reaves Utilities ETF by 4.7% during the fourth quarter. Nova Wealth Management Inc. now owns 8,002 shares of the company’s stock valued at $632,000 after acquiring an additional 357 shares during the period. Finally, Western Wealth Management LLC bought a new position in shares of Virtus Reaves Utilities ETF during the fourth quarter valued at $247,000.

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.