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

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the target of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 63,219 shares, a drop of 52.2% from the August 31st total of 132,236 shares. Currently, 0.6% of the company’s stock are sold short. Based on an average daily trading volume, of 93,165 shares, the days-to-cover ratio is currently 0.7 days.

GraniteShares HIPS US High Income ETF Stock Down 1.3%

Shares of NYSEARCA:HIPS traded down $0.14 during midday trading on Wednesday, reaching $10.71. The company’s stock had a trading volume of 63,034 shares, compared to its average volume of 65,257. The firm has a 50 day moving average of $11.57 and a 200-day moving average of $11.63. The firm has a market capitalization of $103.89 million, a P/E ratio of 11.61 and a beta of 0.64. GraniteShares HIPS US High Income ETF has a 12-month low of $10.71 and a 12-month high of $12.30.

GraniteShares HIPS US High Income ETF Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 28th will be paid a dividend of $0.1075 per share. The ex-dividend date of this dividend is Monday, September 28th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 12.0%.

Institutional Trading of GraniteShares HIPS US High Income ETF

Several hedge funds and other institutional investors have recently made changes to their positions in HIPS. Maridea Wealth Management LLC boosted its position in shares of GraniteShares HIPS US High Income ETF by 14.0% during 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. Chicago Partners Investment Group LLC grew its stake in shares of 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 worth $411,000 after acquiring an additional 926 shares during the period. Legacy Wealth Managment LLC ID purchased a new position in shares of GraniteShares HIPS US High Income ETF during the second quarter valued at approximately $280,000. Gateway Wealth Partners LLC purchased a new position in shares of GraniteShares HIPS US High Income ETF in the 1st quarter worth $126,000. Finally, Capital Square LLC bought a new stake in shares of GraniteShares HIPS US High Income ETF in the second quarter worth $125,000.

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.