GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Short Interest Falls 67.5%

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 20,573 shares, a decline of 67.5% from the September 15th total of 63,219 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 130,949 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

A number of large investors have recently added to or reduced their stakes in the business. Legacy Wealth Managment LLC ID acquired a new position in GraniteShares HIPS US High Income ETF in the 2nd quarter valued at $280,000. Capital Square LLC acquired a new stake in shares of GraniteShares HIPS US High Income ETF during the 2nd quarter worth approximately $125,000. Gateway Wealth Partners LLC bought a new position in shares of GraniteShares HIPS US High Income ETF in the 1st quarter valued at $126,000. Chicago Partners Investment Group LLC raised its stake in GraniteShares HIPS US High Income ETF by 2.8% during the first quarter. Chicago Partners Investment Group LLC now owns 34,387 shares of the company’s stock worth $411,000 after acquiring an additional 926 shares in the last quarter. Finally, Maridea Wealth Management LLC increased its position in GraniteShares HIPS US High Income ETF by 14.0% during the 1st quarter. Maridea Wealth Management LLC now owns 45,248 shares of the company’s stock worth $523,000 after purchasing an additional 5,547 shares in the last quarter.

GraniteShares HIPS US High Income ETF Trading Down 0.6%

Shares of NYSEARCA HIPS traded down $0.06 during mid-day trading on Monday, hitting $10.57. The company had a trading volume of 20,353 shares, compared to its average volume of 67,752. The firm has a 50-day simple moving average of $11.43 and a two-hundred day simple moving average of $11.57. The company has a market capitalization of $95.13 million, a PE ratio of 11.61 and a beta of 0.66. GraniteShares HIPS US High Income ETF has a one year low of $10.47 and a one year high of $12.30.

GraniteShares HIPS US High Income ETF Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 28th were paid a dividend of $0.1075 per share. The ex-dividend date was Monday, September 28th. This represents a $1.29 dividend on an annualized basis and a dividend yield of 12.2%.

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.