GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Price Down 0.4% – Time to Sell?

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)’s share price dropped 0.4% during mid-day trading on Thursday . The company traded as low as $11.51 and last traded at $11.53. Approximately 32,627 shares were traded during trading, a decline of 44% from the average session volume of 57,995 shares. The stock had previously closed at $11.58.

GraniteShares HIPS US High Income ETF Price Performance

The stock has a market capitalization of $110.11 million, a P/E ratio of 11.61 and a beta of 0.63. The company’s 50 day simple moving average is $11.56 and its two-hundred day simple moving average is $11.77.

Hedge Funds Weigh In On GraniteShares HIPS US High Income ETF

Several institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC acquired a new position in GraniteShares HIPS US High Income ETF in the fourth quarter worth $112,000. Gateway Wealth Partners LLC bought a new position in shares of GraniteShares HIPS US High Income ETF in the first quarter valued at about $126,000. Envestnet Asset Management Inc. acquired a new position in GraniteShares HIPS US High Income ETF during the 2nd quarter worth about $128,000. MGO One Seven LLC bought a new stake in GraniteShares HIPS US High Income ETF during the 4th quarter worth about $143,000. Finally, Aurora Private Wealth Inc. acquired a new stake in GraniteShares HIPS US High Income ETF in the 4th quarter valued at about $147,000.

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.