GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Price Down 0.3% – Here’s Why

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)’s share price were down 0.3% during mid-day trading on Wednesday . The stock traded as low as $11.66 and last traded at $11.68. Approximately 16,464 shares traded hands during trading, a decline of 74% from the average daily volume of 63,876 shares. The stock had previously closed at $11.72.

GraniteShares HIPS US High Income ETF Stock Performance

The business has a 50-day moving average of $11.96 and a 200 day moving average of $11.87. The stock has a market cap of $95.78 million, a PE ratio of 11.61 and a beta of 0.78.

GraniteShares HIPS US High Income ETF Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, February 27th. Shareholders of record on Wednesday, February 25th were paid a dividend of $0.1075 per share. This represents a c) annualized dividend and a yield of 11.2%. The ex-dividend date was Wednesday, February 25th.

Institutional Trading of GraniteShares HIPS US High Income ETF

A number of institutional investors have recently added to or reduced their stakes in HIPS. Jane Street Group LLC raised its position in GraniteShares HIPS US High Income ETF by 15.8% in the first quarter. Jane Street Group LLC now owns 39,015 shares of the company’s stock valued at $496,000 after purchasing an additional 5,312 shares during the period. Envestnet Asset Management Inc. acquired a new stake in GraniteShares HIPS US High Income ETF in the second quarter valued at approximately $128,000. Simplex Trading LLC raised its stake in shares of GraniteShares HIPS US High Income ETF by 406.2% during the second quarter. Simplex Trading LLC now owns 2,860 shares of the company’s stock valued at $34,000 after purchasing an additional 2,295 shares during the period. Cetera Investment Advisers lifted its position in shares of GraniteShares HIPS US High Income ETF by 88.7% during the second quarter. Cetera Investment Advisers now owns 55,879 shares of the company’s stock worth $676,000 after purchasing an additional 26,260 shares in the last quarter. Finally, Camarda Financial Advisors LLC boosted its stake in shares of GraniteShares HIPS US High Income ETF by 7.7% in the second quarter. Camarda Financial Advisors LLC now owns 83,550 shares of the company’s stock valued at $1,011,000 after purchasing an additional 5,990 shares during the period.

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.