  We study moduli spaces of Ulrich bundles of rank $r \geq 2$ on the Fano
3-fold $V_5$ of Picard number 1, degree 5 and index 2. We prove that the moduli
space of stable Ulrich bundles of rank $r$ on $V_5$ can be identified with a
smooth $(r^2+1)$-dimensional open subset of the moduli space of stable quiver
representations with dimension vector $(r, r)$ of the Kronecker quiver with 2
vertices and 3 arrows.
