GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Short Interest Up 71.7% in May

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 139,709 shares, a growth of 71.7% from the April 30th total of 81,381 shares. Based on an average trading volume of 50,533 shares, the short-interest ratio is presently 2.8 days. Approximately 1.6% of the shares of the company are short sold.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Gateway Wealth Partners LLC bought a new stake in GraniteShares HIPS US High Income ETF in the 1st quarter valued at about $126,000. Chicago Partners Investment Group LLC raised its stake in GraniteShares HIPS US High Income ETF by 2.8% in the 1st quarter. Chicago Partners Investment Group LLC now owns 34,387 shares of the company’s stock valued at $411,000 after acquiring an additional 926 shares during the period. Maridea Wealth Management LLC raised its stake in GraniteShares HIPS US High Income ETF by 14.0% in the 1st quarter. Maridea Wealth Management LLC now owns 45,248 shares of the company’s stock valued at $523,000 after acquiring an additional 5,547 shares during the period. Cetera Investment Advisers raised its stake in GraniteShares HIPS US High Income ETF by 9.8% in the 4th quarter. Cetera Investment Advisers now owns 83,911 shares of the company’s stock valued at $980,000 after acquiring an additional 7,492 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in GraniteShares HIPS US High Income ETF in the 4th quarter valued at about $112,000.

GraniteShares HIPS US High Income ETF Stock Performance

Shares of GraniteShares HIPS US High Income ETF stock opened at $11.62 on Wednesday. GraniteShares HIPS US High Income ETF has a 52-week low of $11.39 and a 52-week high of $12.46. The stock’s 50-day simple moving average is $11.76 and its 200 day simple moving average is $11.84. The stock has a market capitalization of $101.09 million, a P/E ratio of 11.61 and a beta of 0.65.

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.