GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Sees Significant Decrease in Short Interest

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

GraniteShares HIPS US High Income ETF Stock Performance

Shares of NYSEARCA:HIPS traded down $0.06 during mid-day trading on Monday, reaching $10.57. 20,353 shares of the company’s stock were exchanged, compared to its average volume of 67,752. The business’s fifty day moving average price is $11.43 and its 200-day moving average price is $11.57. GraniteShares HIPS US High Income ETF has a twelve month low of $10.47 and a twelve month high of $12.30. The firm has a market capitalization of $95.13 million, a price-to-earnings ratio of 11.61 and a beta of 0.66.

GraniteShares HIPS US High Income ETF Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th were given a dividend of $0.1075 per share. This represents a $1.29 dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend was Monday, September 28th.

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 business. Maridea Wealth Management LLC boosted its holdings in 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 worth $523,000 after purchasing an additional 5,547 shares during the last quarter. Chicago Partners Investment Group LLC increased its position 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 buying an additional 926 shares during the period. Legacy Wealth Managment LLC ID bought a new stake in GraniteShares HIPS US High Income ETF during the 2nd quarter worth approximately $280,000. Gateway Wealth Partners LLC purchased a new stake in shares of GraniteShares HIPS US High Income ETF in the first quarter worth $126,000. Finally, Capital Square LLC purchased a new stake in GraniteShares HIPS US High Income ETF in the second quarter valued at 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.