GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Short Interest Drops 52.2%

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 63,219 shares, a decrease of 52.2% from the August 31st total of 132,236 shares. Based on an average daily volume of 93,165 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.6% of the shares of the company are sold short.

Hedge Funds Weigh In On GraniteShares HIPS US High Income ETF

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Square LLC acquired a new position in GraniteShares HIPS US High Income ETF during the 2nd quarter valued at $125,000. Gateway Wealth Partners LLC acquired a new stake in GraniteShares HIPS US High Income ETF in the 1st quarter worth $126,000. Legacy Wealth Managment LLC ID bought a new position in shares of GraniteShares HIPS US High Income ETF during the 2nd quarter worth about $280,000. Chicago Partners Investment Group LLC increased its holdings in shares of GraniteShares HIPS US High Income ETF by 2.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 34,387 shares of the company’s stock worth $411,000 after purchasing an additional 926 shares during the period. Finally, Maridea Wealth Management LLC increased its holdings in shares of GraniteShares HIPS US High Income ETF by 14.0% during the 1st quarter. Maridea Wealth Management LLC now owns 45,248 shares of the company’s stock worth $523,000 after purchasing an additional 5,547 shares during the period.

GraniteShares HIPS US High Income ETF Trading Up 0.3%

HIPS traded up $0.03 during midday trading on Tuesday, reaching $10.85. The company’s stock had a trading volume of 60,199 shares, compared to its average volume of 65,258. The stock has a market cap of $105.25 million, a P/E ratio of 11.61 and a beta of 0.64. The company has a fifty day simple moving average of $11.59 and a 200 day simple moving average of $11.63. GraniteShares HIPS US High Income ETF has a twelve month low of $10.79 and a twelve month high of $12.30.

GraniteShares HIPS US High Income ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th will be given a $0.1075 dividend. This represents a $1.29 annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Monday, September 28th.

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.