Steel Grove Capital Advisors LLC Buys 45,669 Shares of Virtus Reaves Utilities ETF $UTES

Steel Grove Capital Advisors LLC bought a new position in Virtus Reaves Utilities ETF (NYSEARCA:UTES) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 45,669 shares of the company’s stock, valued at approximately $3,205,000.

A number of other hedge funds have also made changes to their positions in UTES. Coston McIsaac & Partners bought a new position in Virtus Reaves Utilities ETF during the 1st quarter valued at about $33,000. Sound Income Strategies LLC acquired a new position in Virtus Reaves Utilities ETF in the first quarter valued at about $37,000. Bartlett & CO. Wealth Management LLC bought a new stake in Virtus Reaves Utilities ETF during the first quarter worth about $135,000. Roxbury Financial LLC bought a new stake in Virtus Reaves Utilities ETF during the third quarter worth about $120,000. Finally, Fiduciary Alliance LLC grew its stake in Virtus Reaves Utilities ETF by 3.2% during the first quarter. Fiduciary Alliance LLC now owns 9,989 shares of the company’s stock worth $826,000 after buying an additional 310 shares during the last quarter.

Virtus Reaves Utilities ETF Stock Performance

Shares of NYSEARCA UTES traded up $0.38 during mid-day trading on Tuesday, hitting $76.94. 75,942 shares of the stock were exchanged, compared to its average volume of 189,394. The company has a market cap of $1.22 billion, a P/E ratio of 20.34 and a beta of 0.74. The stock’s fifty day simple moving average is $74.33 and its two-hundred day simple moving average is $78.54. Virtus Reaves Utilities ETF has a twelve month low of $69.45 and a twelve month high of $88.43.

Virtus Reaves Utilities ETF 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.