GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Trading Down 0.3% – Time to Sell?

Shares of GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) fell 0.3% during mid-day trading on Wednesday . The stock traded as low as $11.66 and last traded at $11.68. 16,464 shares changed hands during trading, a decline of 74% from the average session volume of 63,876 shares. The stock had previously closed at $11.72.

GraniteShares HIPS US High Income ETF Price Performance

The company has a market cap of $96.94 million, a price-to-earnings ratio of 11.61 and a beta of 0.78. The business’s fifty day moving average price is $11.96 and its 200 day moving average price is $11.87.

GraniteShares HIPS US High Income ETF Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.1075 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a c) annualized dividend and a yield of 11.0%.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

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

About GraniteShares HIPS US High Income ETF

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.