GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Shares Climb 0.1% – Should You Buy?

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) were up 0.1% during trading on Monday. The stock traded as high as $10.65 and last traded at $10.63. Approximately 63,017 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 66,609 shares. The stock had previously closed at $10.62.

GraniteShares HIPS US High Income ETF Trading Up 0.1%

The stock’s fifty day moving average is $11.06 and its 200 day moving average is $11.57. The company has a market capitalization of $95.14 million, a P/E ratio of 11.61 and a beta of 0.66.

Hedge Funds Weigh In On GraniteShares HIPS US High Income ETF

Hedge funds have recently modified their holdings of the company. Capital Square LLC bought a new position in shares of GraniteShares HIPS US High Income ETF during the second quarter valued at about $125,000. Gateway Wealth Partners LLC purchased a new position in GraniteShares HIPS US High Income ETF during the 1st quarter valued at about $126,000. Legacy Wealth Managment LLC ID bought a new position in GraniteShares HIPS US High Income ETF during the 2nd quarter valued at approximately $280,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in GraniteShares HIPS US High Income ETF in the 3rd quarter worth approximately $384,000.

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.