GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Price Down 0.4% – Here’s Why

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)’s stock price dropped 0.4% during mid-day trading on Friday . The stock traded as low as $11.80 and last traded at $11.81. Approximately 48,504 shares were traded during trading, a decline of 9% from the average daily volume of 53,317 shares. The stock had previously closed at $11.86.

GraniteShares HIPS US High Income ETF Stock Performance

The company has a market capitalization of $113.97 million, a PE ratio of 11.61 and a beta of 0.78. The stock has a fifty day moving average of $11.73 and a 200 day moving average of $12.00.

Hedge Funds Weigh In On GraniteShares HIPS US High Income ETF

Several institutional investors have recently bought and sold shares of the stock. Hamilton Capital Partners LLC bought a new stake in GraniteShares HIPS US High Income ETF in the 3rd quarter valued at $6,053,000. RiverTree Advisors LLC increased its holdings in shares of GraniteShares HIPS US High Income ETF by 223.9% in the second quarter. RiverTree Advisors LLC now owns 332,836 shares of the company’s stock worth $4,029,000 after purchasing an additional 230,079 shares during the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of GraniteShares HIPS US High Income ETF by 204.1% in the second quarter. Orion Porfolio Solutions LLC now owns 166,565 shares of the company’s stock worth $2,016,000 after buying an additional 111,785 shares in the last quarter. Ethos Financial Group LLC boosted its stake in GraniteShares HIPS US High Income ETF by 16.9% during the third quarter. Ethos Financial Group LLC now owns 293,068 shares of the company’s stock valued at $3,455,000 after buying an additional 42,392 shares during the last quarter. Finally, Maridea Wealth Management LLC grew its holdings in GraniteShares HIPS US High Income ETF by 150.7% during the 2nd quarter. Maridea Wealth Management LLC now owns 46,307 shares of the company’s stock valued at $561,000 after buying an additional 27,838 shares in the last quarter.

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.