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

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the target of a significant decline in short interest in May. As of May 31st, there was short interest totalling 52,500 shares, a decline of 30.4% from the May 15th total of 75,400 shares. Based on an average trading volume of 51,300 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.6% of the company’s stock are short sold.

GraniteShares HIPS US High Income ETF Stock Up 0.2%

NYSEARCA:HIPS opened at $12.17 on Tuesday. GraniteShares HIPS US High Income ETF has a 52 week low of $10.87 and a 52 week high of $13.40. The stock has a market cap of $107.10 million, a price-to-earnings ratio of 11.61 and a beta of 0.77. The company’s 50 day moving average price is $11.98 and its 200-day moving average price is $12.59.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

Large investors have recently bought and sold shares of the business. Cetera Investment Advisers raised its holdings in shares of GraniteShares HIPS US High Income ETF by 28.2% during the fourth quarter. Cetera Investment Advisers now owns 29,367 shares of the company’s stock valued at $377,000 after purchasing an additional 6,465 shares during the last quarter. Jane Street Group LLC purchased a new stake in GraniteShares HIPS US High Income ETF during the 4th quarter valued at $433,000. Raymond James Financial Inc. purchased a new stake in GraniteShares HIPS US High Income ETF during the 4th quarter valued at $198,000. RiverTree Advisors LLC purchased a new stake in GraniteShares HIPS US High Income ETF during the first quarter valued at $1,307,000. Finally, LPL Financial LLC increased its position in GraniteShares HIPS US High Income ETF by 19.3% during the fourth quarter. LPL Financial LLC now owns 302,205 shares of the company’s stock valued at $3,884,000 after acquiring an additional 48,932 shares during 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.