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

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 132,236 shares, a decline of 31.9% from the August 15th total of 194,294 shares. Based on an average trading volume of 56,011 shares, the short-interest ratio is presently 2.4 days. Approximately 1.4% of the company’s shares are short sold.

Hedge Funds Weigh In On GraniteShares HIPS US High Income ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Square LLC purchased a new position in GraniteShares HIPS US High Income ETF in the 2nd quarter worth approximately $125,000. Gateway Wealth Partners LLC purchased a new stake in shares of GraniteShares HIPS US High Income ETF during the first quarter valued at approximately $126,000. Legacy Wealth Managment LLC ID acquired a new position in shares of GraniteShares HIPS US High Income ETF during the second quarter worth $280,000. Chicago Partners Investment Group LLC lifted 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 worth $411,000 after purchasing an additional 926 shares in the last quarter. Finally, Maridea Wealth Management LLC boosted its stake in shares of GraniteShares HIPS US High Income ETF by 14.0% in the first quarter. Maridea Wealth Management LLC now owns 45,248 shares of the company’s stock valued at $523,000 after purchasing an additional 5,547 shares during the period.

GraniteShares HIPS US High Income ETF Trading Up 1.0%

Shares of GraniteShares HIPS US High Income ETF stock traded up $0.12 during trading hours on Thursday, reaching $11.48. The stock had a trading volume of 4,702 shares, compared to its average volume of 60,640. The firm has a 50 day simple moving average of $11.66 and a two-hundred day simple moving average of $11.67. The firm has a market capitalization of $111.32 million, a price-to-earnings ratio of 11.61 and a beta of 0.64. GraniteShares HIPS US High Income ETF has a 1 year low of $11.28 and a 1 year high of $12.30.

GraniteShares HIPS US High Income ETF Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Thursday, August 27th were given a dividend of $0.1075 per share. This represents a c) dividend on an annualized basis and a yield of 11.2%. The ex-dividend date of this dividend was Thursday, August 27th.

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.