GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Price Up 0.4% – Should You Buy?

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)’s stock price were up 0.4% during trading on Friday . The company traded as high as $11.90 and last traded at $11.83. Approximately 76,517 shares changed hands during mid-day trading, an increase of 41% from the average daily volume of 54,448 shares. The stock had previously closed at $11.78.

GraniteShares HIPS US High Income ETF Price Performance

The company’s 50-day moving average price is $11.71 and its two-hundred day moving average price is $12.03. The company has a market capitalization of $114.16 million, a price-to-earnings ratio of 11.61 and a beta of 0.78.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Chicago Partners Investment Group LLC increased its stake in GraniteShares HIPS US High Income ETF by 3.4% in the first quarter. Chicago Partners Investment Group LLC now owns 31,145 shares of the company’s stock valued at $367,000 after purchasing an additional 1,035 shares in the last quarter. Truist Financial Corp raised its holdings in GraniteShares HIPS US High Income ETF by 4.5% during the second quarter. Truist Financial Corp now owns 41,703 shares of the company’s stock worth $505,000 after buying an additional 1,804 shares during the last quarter. Simplex Trading LLC lifted its stake in shares of GraniteShares HIPS US High Income ETF by 406.2% in the second quarter. Simplex Trading LLC now owns 2,860 shares of the company’s stock valued at $34,000 after buying an additional 2,295 shares in the last quarter. Private Advisor Group LLC grew its holdings 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, Silver Oak Securities Incorporated grew its holdings in shares of GraniteShares HIPS US High Income ETF by 33.1% during the third quarter. Silver Oak Securities Incorporated now owns 13,978 shares of the company’s stock valued at $165,000 after buying an additional 3,480 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.