GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Short Interest Update

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) saw a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 85,044 shares, a drop of 39.1% from the May 14th total of 139,709 shares. Based on an average daily trading volume, of 70,610 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.0% of the company’s stock are short sold.

GraniteShares HIPS US High Income ETF Price Performance

GraniteShares HIPS US High Income ETF stock traded down $0.07 during midday trading on Monday, reaching $11.49. The company’s stock had a trading volume of 29,003 shares, compared to its average volume of 61,239. The stock’s 50-day simple moving average is $11.76 and its 200-day simple moving average is $11.83. GraniteShares HIPS US High Income ETF has a 52-week low of $11.39 and a 52-week high of $12.46. The stock has a market capitalization of $99.96 million, a P/E ratio of 11.61 and a beta of 0.63.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gateway Wealth Partners LLC purchased a new stake in GraniteShares HIPS US High Income ETF in the first quarter valued at about $126,000. Chicago Partners Investment Group LLC raised its stake in GraniteShares HIPS US High Income ETF by 2.8% in the first quarter. Chicago Partners Investment Group LLC now owns 34,387 shares of the company’s stock valued at $411,000 after buying an additional 926 shares during the last quarter. Maridea Wealth Management LLC raised its stake in 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 buying an additional 5,547 shares during the last quarter. Cetera Investment Advisers raised its stake in GraniteShares HIPS US High Income ETF by 9.8% in the fourth quarter. Cetera Investment Advisers now owns 83,911 shares of the company’s stock valued at $980,000 after buying an additional 7,492 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new stake in GraniteShares HIPS US High Income ETF in the fourth quarter valued at about $112,000.

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. HIPS was launched on Jan 6, 2015 and is managed by GraniteShares.