GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Sees Significant Decline in Short Interest

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 132,236 shares, a decrease of 31.9% from the August 15th total of 194,294 shares. Based on an average daily volume of 56,011 shares, the days-to-cover ratio is presently 2.4 days. Currently, 1.4% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HIPS. Legacy Wealth Managment LLC ID acquired a new position in GraniteShares HIPS US High Income ETF during the second quarter worth approximately $280,000. Capital Square LLC acquired a new position in shares of GraniteShares HIPS US High Income ETF in the 2nd quarter valued at $125,000. Gateway Wealth Partners LLC acquired a new position in shares of GraniteShares HIPS US High Income ETF in the 1st quarter valued at $126,000. Chicago Partners Investment Group LLC grew its stake in shares of GraniteShares HIPS US High Income ETF by 2.8% during the 1st 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 period. Finally, Maridea Wealth Management LLC grew its stake in shares of GraniteShares HIPS US High Income ETF by 14.0% during the 1st 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 period.

GraniteShares HIPS US High Income ETF Stock Performance

GraniteShares HIPS US High Income ETF stock traded up $0.12 during trading on Thursday, hitting $11.48. The company’s stock had a trading volume of 4,702 shares, compared to its average volume of 60,640. The stock has a market capitalization of $111.32 million, a price-to-earnings ratio of 11.61 and a beta of 0.64. The stock’s fifty day moving average is $11.66 and its 200 day moving average is $11.67. GraniteShares HIPS US High Income ETF has a 1-year low of $11.28 and a 1-year high of $12.30.

GraniteShares HIPS US High Income ETF Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, August 31st. Shareholders of record on Thursday, August 27th were issued a $0.1075 dividend. The ex-dividend date was Thursday, August 27th. This represents a c) annualized dividend and a yield of 11.2%.

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.