GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Price Up 0.1% – Still a Buy?

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

GraniteShares HIPS US High Income ETF Stock Performance

The firm’s 50-day simple moving average is $11.01 and its 200 day simple moving average is $11.56. The stock has a market capitalization of $94.78 million, a P/E ratio of 11.61 and a beta of 0.66.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC acquired a new position in GraniteShares HIPS US High Income ETF in the 3rd quarter valued at $384,000. Legacy Wealth Managment LLC ID bought a new stake in shares of GraniteShares HIPS US High Income ETF during the 2nd quarter valued at $280,000. Gateway Wealth Partners LLC bought a new stake in shares of GraniteShares HIPS US High Income ETF during the 1st quarter valued at $126,000. Capital Square LLC acquired a new stake in shares of GraniteShares HIPS US High Income ETF during the 2nd quarter worth $125,000. Finally, Simplex Trading LLC acquired a new stake in shares of GraniteShares HIPS US High Income ETF during the 3rd quarter worth $36,000.

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.