GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Shares Up 0.4% – Here’s Why

Shares of GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) were up 0.4% on Friday . The stock traded as high as $11.90 and last traded at $11.83. Approximately 76,517 shares were traded during mid-day trading, an increase of 41% from the average daily volume of 54,448 shares. The stock had previously closed at $11.78.

GraniteShares HIPS US High Income ETF Stock Up 0.4%

The stock has a market cap of $114.16 million, a P/E ratio of 11.61 and a beta of 0.78. The company has a 50-day simple moving average of $11.71 and a two-hundred day simple moving average of $12.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Simplex Trading LLC boosted its holdings in GraniteShares HIPS US High Income ETF by 406.2% in the second quarter. Simplex Trading LLC now owns 2,860 shares of the company’s stock valued at $34,000 after acquiring an additional 2,295 shares in the last quarter. Silver Oak Securities Incorporated purchased a new position in shares of GraniteShares HIPS US High Income ETF during the second quarter valued at about $127,000. Stratos Wealth Advisors LLC bought a new position in GraniteShares HIPS US High Income ETF in the third quarter worth about $127,000. Envestnet Asset Management Inc. purchased a new stake in GraniteShares HIPS US High Income ETF in the second quarter worth about $128,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of GraniteShares HIPS US High Income ETF during the 3rd quarter worth approximately $195,000.

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.