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

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 20,573 shares, a decline of 67.5% from the September 15th total of 63,219 shares. Based on an average trading volume of 130,949 shares, the short-interest ratio is currently 0.2 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of HIPS. Legacy Wealth Managment LLC ID acquired a new position in shares of GraniteShares HIPS US High Income ETF during the second quarter valued at $280,000. Capital Square LLC acquired a new position in GraniteShares HIPS US High Income ETF during the 2nd quarter valued at about $125,000. Gateway Wealth Partners LLC acquired a new position in GraniteShares HIPS US High Income ETF during the 1st quarter valued at about $126,000. Chicago Partners Investment Group LLC lifted its position in GraniteShares HIPS US High Income ETF by 2.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 34,387 shares of the company’s stock valued at $411,000 after purchasing an additional 926 shares during the period. Finally, Maridea Wealth Management LLC boosted its stake in shares of GraniteShares HIPS US High Income ETF by 14.0% in the 1st 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 last quarter.

GraniteShares HIPS US High Income ETF Price Performance

Shares of HIPS stock traded down $0.03 during trading hours on Tuesday, reaching $10.54. 57,293 shares of the company were exchanged, compared to its average volume of 67,698. GraniteShares HIPS US High Income ETF has a fifty-two week low of $10.47 and a fifty-two week high of $12.30. The stock’s fifty day moving average is $11.39 and its two-hundred day moving average is $11.56. The company has a market cap of $94.86 million, a price-to-earnings ratio of 11.61 and a beta of 0.66.

GraniteShares HIPS US High Income ETF Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 28th were issued a $0.1075 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 12.2%.

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.