GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Trading Down 0.3% – Time to Sell?

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)’s share price traded down 0.3% during trading on Wednesday . The stock traded as low as $11.66 and last traded at $11.68. 16,464 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 63,876 shares. The stock had previously closed at $11.72.

GraniteShares HIPS US High Income ETF Price Performance

The firm has a market cap of $96.94 million, a PE ratio of 11.61 and a beta of 0.78. The business has a fifty day moving average price of $11.96 and a two-hundred day moving average price of $11.87.

GraniteShares HIPS US High Income ETF Announces Dividend

The business also recently declared a monthly dividend, which was paid on Friday, February 27th. Stockholders of record on Wednesday, February 25th were given a $0.1075 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date of this dividend was Wednesday, February 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIPS. Simplex Trading LLC lifted its position in GraniteShares HIPS US High Income ETF by 406.2% in the 2nd quarter. Simplex Trading LLC now owns 2,860 shares of the company’s stock worth $34,000 after buying an additional 2,295 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of GraniteShares HIPS US High Income ETF during the 4th quarter valued at $112,000. Stratos Wealth Advisors LLC purchased a new position in shares of GraniteShares HIPS US High Income ETF during the 3rd quarter valued at $127,000. Envestnet Asset Management Inc. purchased a new position in shares of GraniteShares HIPS US High Income ETF during the 2nd quarter valued at $128,000. Finally, MGO One Seven LLC acquired a new position in shares of GraniteShares HIPS US High Income ETF in the fourth quarter worth $143,000.

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.