GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Price Up 0.1% – Here’s Why

Shares of GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) rose 0.1% on Monday. The stock traded as high as $10.65 and last traded at $10.63. 63,017 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 66,609 shares. The stock had previously closed at $10.62.

GraniteShares HIPS US High Income ETF Stock Performance

The stock has a market capitalization of $95.14 million, a P/E ratio of 11.61 and a beta of 0.66. The business has a 50-day moving average price of $11.06 and a 200 day moving average price of $11.57.

Hedge Funds Weigh In On GraniteShares HIPS US High Income ETF

Hedge funds have recently bought and sold shares of the business. Chicago Partners Investment Group LLC bought a new position in GraniteShares HIPS US High Income ETF during the third quarter valued at approximately $384,000. Legacy Wealth Managment LLC ID purchased a new stake in GraniteShares HIPS US High Income ETF in the second quarter worth approximately $280,000. Capital Square LLC bought a new stake in GraniteShares HIPS US High Income ETF in the 2nd quarter worth approximately $125,000. Finally, Gateway Wealth Partners LLC bought a new stake in GraniteShares HIPS US High Income ETF in the 1st quarter worth approximately $126,000.

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.