GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Shares Up 0.2% – Should You Buy?

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) were up 0.2% during mid-day trading on Thursday . The stock traded as high as $11.83 and last traded at $11.80. 53,109 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 59,493 shares. The stock had previously closed at $11.78.

GraniteShares HIPS US High Income ETF Price Performance

The company has a market cap of $114.46 million, a P/E ratio of 11.61 and a beta of 0.63. The company’s 50-day moving average is $11.54 and its two-hundred day moving average is $11.72.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HIPS. Kestra Advisory Services LLC purchased a new stake in shares of GraniteShares HIPS US High Income ETF during the fourth quarter valued at $112,000. Capital Square LLC purchased a new position in shares of GraniteShares HIPS US High Income ETF during the second quarter valued at approximately $125,000. 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. Envestnet Asset Management Inc. bought a new position in GraniteShares HIPS US High Income ETF during the second quarter valued at approximately $128,000. Finally, MGO One Seven LLC bought a new position in GraniteShares HIPS US High Income ETF during the fourth quarter valued at approximately $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.