UTES Crosses Below Key Moving Average Level

Virtus Reaves Utilities ETF (UTES) fell below its 200-day moving average of $80.94 and traded as low as $80.01, with shares down about 2% on the day. The move is a technical weakness signal rather than a fundamental change, but it may weigh on short-term sentiment.

Analysis

Virtus Reaves Utilities ETF (UTES) fell below its 200-day moving average of $80.94 and traded as low as $80.01, with shares down about 2% on the day. The move is a technical weakness signal rather than a fundamental change, but it may weigh on short-term sentiment.