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

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ameriprise Financial Inc. bought a new position in Virtus Reaves Utilities ETF in the 4th quarter worth about $308,000. Private Trust Co. NA increased its position in shares of Virtus Reaves Utilities ETF by 151.6% in the fourth quarter. Private Trust Co. NA now owns 468 shares of the company’s stock worth $30,000 after purchasing an additional 282 shares during the last quarter. Steel Grove Capital Advisors LLC raised its stake in Virtus Reaves Utilities ETF by 551.8% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 27,714 shares of the company’s stock valued at $1,767,000 after purchasing an additional 23,462 shares in the last quarter. NBC Securities Inc. lifted its position in Virtus Reaves Utilities ETF by 110,575.0% during the first quarter. NBC Securities Inc. now owns 8,854 shares of the company’s stock valued at $571,000 after purchasing an additional 8,846 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its stake in Virtus Reaves Utilities ETF by 25.3% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 3,857 shares of the company’s stock worth $246,000 after buying an additional 780 shares in the last quarter.

Virtus Reaves Utilities ETF Price Performance

Shares of NYSEARCA UTES traded down $0.43 during midday trading on Friday, reaching $73.46. The company’s stock had a trading volume of 110,444 shares, compared to its average volume of 82,705. The stock has a market capitalization of $477.49 million, a P/E ratio of 21.65 and a beta of 0.71. The firm has a 50 day moving average price of $68.86 and a 200-day moving average price of $67.35. Virtus Reaves Utilities ETF has a 12-month low of $51.21 and a 12-month high of $75.18.

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.