GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Shares Up 0.2% – Still a Buy?

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) shares traded up 0.2% on Friday . The company traded as high as $12.29 and last traded at $12.27. 111,589 shares traded hands during trading, a decline of 23% from the average session volume of 144,672 shares. The stock had previously closed at $12.24.

GraniteShares HIPS US High Income ETF Stock Performance

The company has a 50 day moving average of $11.83 and a 200 day moving average of $11.96. The firm has a market cap of $110.43 million, a P/E ratio of 11.61 and a beta of 0.78.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC boosted its holdings 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 worth $496,000 after purchasing an additional 5,312 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in shares of GraniteShares HIPS US High Income ETF in the second quarter worth about $127,000. Maridea Wealth Management LLC lifted its position in shares of GraniteShares HIPS US High Income ETF by 150.7% in the second quarter. Maridea Wealth Management LLC now owns 46,307 shares of the company’s stock worth $561,000 after buying an additional 27,838 shares during the last quarter. Truist Financial Corp boosted its stake in shares of GraniteShares HIPS US High Income ETF by 4.5% during the 2nd quarter. Truist Financial Corp now owns 41,703 shares of the company’s stock worth $505,000 after acquiring an additional 1,804 shares in the last quarter. Finally, SimpliFi Inc. increased its holdings in shares of GraniteShares HIPS US High Income ETF by 3.2% during the 2nd quarter. SimpliFi Inc. now owns 616,713 shares of the company’s stock valued at $7,465,000 after acquiring an additional 18,840 shares during the last quarter.

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.