GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Trading 0.2% Higher – Should You Buy?

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)’s share price traded up 0.2% during mid-day trading on Thursday . The company traded as high as $11.77 and last traded at $11.73. 87,844 shares traded hands during mid-day trading, an increase of 45% from the average session volume of 60,535 shares. The stock had previously closed at $11.71.

GraniteShares HIPS US High Income ETF Stock Performance

The company has a market capitalization of $114.07 million, a PE ratio of 11.61 and a beta of 0.64. The company’s 50-day moving average is $11.64 and its 200 day moving average is $11.69.

GraniteShares HIPS US High Income ETF Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, August 31st. Stockholders of record on Thursday, August 27th were issued a dividend of $0.1075 per share. The ex-dividend date was Thursday, August 27th. This represents a c) dividend on an annualized basis and a dividend yield of 11.0%.

Hedge Funds Weigh In On GraniteShares HIPS US High Income ETF

Hedge funds have recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC lifted its position in GraniteShares HIPS US High Income ETF by 204.1% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 166,565 shares of the company’s stock valued at $2,016,000 after acquiring an additional 111,785 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of GraniteShares HIPS US High Income ETF by 9.8% during the fourth quarter. Cetera Investment Advisers now owns 83,911 shares of the company’s stock valued at $980,000 after purchasing an additional 7,492 shares in the last quarter. Camarda Financial Advisors LLC lifted its holdings in shares of GraniteShares HIPS US High Income ETF by 7.7% during 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 in the last quarter. Private Advisor Group LLC boosted its position in shares of GraniteShares HIPS US High Income ETF by 3.2% during the third quarter. Private Advisor Group LLC now owns 80,966 shares of the company’s stock valued at $955,000 after buying an additional 2,531 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in GraniteShares HIPS US High Income ETF by 18.0% in the 2nd quarter. Osaic Holdings Inc. now owns 70,249 shares of the company’s stock worth $850,000 after buying an additional 10,715 shares in the last quarter.

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.