GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Price Up 0.3% – Time to Buy?

Shares of GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) were up 0.3% on Wednesday . The company traded as high as $12.15 and last traded at $12.10. Approximately 29,281 shares changed hands during trading, a decline of 63% from the average daily volume of 78,906 shares. The stock had previously closed at $12.06.

GraniteShares HIPS US High Income ETF Trading Up 0.3%

The firm’s fifty day moving average price is $11.96 and its 200-day moving average price is $11.92. The firm has a market cap of $100.43 million, a price-to-earnings ratio of 11.61 and a beta of 0.78.

GraniteShares HIPS US High Income ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, January 28th were paid a $0.1075 dividend. This represents a c) annualized dividend and a yield of 10.7%. The ex-dividend date was Wednesday, January 28th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Simplex Trading LLC increased its position in GraniteShares HIPS US High Income ETF by 406.2% during the second quarter. Simplex Trading LLC now owns 2,860 shares of the company’s stock worth $34,000 after buying an additional 2,295 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of GraniteShares HIPS US High Income ETF in the fourth quarter valued at approximately $112,000. Stratos Wealth Advisors LLC purchased a new position in shares of GraniteShares HIPS US High Income ETF during the third quarter worth approximately $127,000. Envestnet Asset Management Inc. purchased a new position in shares of GraniteShares HIPS US High Income ETF during the second quarter worth approximately $128,000. Finally, MGO One Seven LLC acquired a new position in shares of GraniteShares HIPS US High Income ETF in the 4th quarter valued at $143,000.

GraniteShares HIPS US High Income ETF Company Profile

The GraniteShares HIPS US High Income ETF (HIPS) is an exchange-traded fund that is based on the TFMS HIPS index. The fund tracks an index of assets that tend to produce high income and pass through that income without being taxed at the constituent level. These include REITs, MLPs, BDCs and debt-based closed-end funds. HIPS was launched on Jan 6, 2015 and is managed by GraniteShares.