GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Sees Large Decline in Short Interest

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 20,573 shares, a decrease of 67.5% from the September 15th total of 63,219 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 130,949 shares, the days-to-cover ratio is presently 0.2 days.

GraniteShares HIPS US High Income ETF Trading Down 0.5%

HIPS traded down $0.05 during trading on Wednesday, reaching $10.49. The stock had a trading volume of 47,741 shares, compared to its average volume of 67,593. The company has a market capitalization of $94.40 million, a price-to-earnings ratio of 11.61 and a beta of 0.66. The stock’s 50 day moving average is $11.39 and its two-hundred day moving average is $11.56. GraniteShares HIPS US High Income ETF has a one year low of $10.43 and a one year high of $12.30.

GraniteShares HIPS US High Income ETF Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th were given a $0.1075 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 12.3%.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

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

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.