Short Interest in GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Decreases By 31.9%

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

GraniteShares HIPS US High Income ETF Price Performance

Shares of HIPS stock opened at $11.48 on Friday. The company has a market cap of $111.36 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. The stock has a 50 day simple moving average of $11.66 and a 200-day simple moving average of $11.67.

GraniteShares HIPS US High Income ETF Announces Dividend

The business also recently declared 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) annualized dividend and a dividend yield of 11.2%. The ex-dividend date was Thursday, August 27th.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

Several large investors have recently bought and sold shares of HIPS. Legacy Wealth Managment LLC ID purchased a new position in shares of GraniteShares HIPS US High Income ETF in the second quarter valued at approximately $280,000. Capital Square LLC acquired a new stake in shares of GraniteShares HIPS US High Income ETF in the second 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 worth approximately $126,000. Chicago Partners Investment Group LLC increased 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 raised its stake in 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.

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.