GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Short Interest Up 76.6% in June

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 150,176 shares, a growth of 76.6% from the May 31st total of 85,044 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily volume of 87,047 shares, the days-to-cover ratio is presently 1.7 days.

GraniteShares HIPS US High Income ETF Price Performance

Shares of NYSEARCA HIPS opened at $11.47 on Friday. The stock has a market capitalization of $108.97 million, a price-to-earnings ratio of 11.61 and a beta of 0.63. GraniteShares HIPS US High Income ETF has a 52 week low of $11.28 and a 52 week high of $12.46. The firm has a 50-day moving average price of $11.65 and a 200 day moving average price of $11.79.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

A number of hedge funds and other institutional investors have recently modified their holdings of HIPS. Kestra Advisory Services LLC purchased a new stake in shares of GraniteShares HIPS US High Income ETF during the 4th quarter worth approximately $112,000. Gateway Wealth Partners LLC purchased a new position in GraniteShares HIPS US High Income ETF in the 1st quarter valued at approximately $126,000. Envestnet Asset Management Inc. purchased a new position in GraniteShares HIPS US High Income ETF in the 2nd quarter valued at approximately $128,000. MGO One Seven LLC acquired a new position in GraniteShares HIPS US High Income ETF during the fourth quarter worth $143,000. Finally, Aurora Private Wealth Inc. acquired a new position in GraniteShares HIPS US High Income ETF during the fourth quarter worth $147,000.

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.