GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Shares Up 0.2% – Time to Buy?

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPSGet Free Report) shot up 0.2% on Thursday . The company traded as high as $11.77 and last traded at $11.73. Approximately 87,844 shares traded hands during trading, an increase of 45% from the average session volume of 60,535 shares. The stock had previously closed at $11.71.

GraniteShares HIPS US High Income ETF Price Performance

The company has a 50 day simple moving average of $11.64 and a 200-day simple moving average of $11.69. The stock has a market cap of $113.78 million, a P/E ratio of 11.61 and a beta of 0.63.

GraniteShares HIPS US High Income ETF Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Thursday, August 27th were given a $0.1075 dividend. The ex-dividend date was Thursday, August 27th. This represents a c) dividend on an annualized basis and a yield of 11.0%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of HIPS. Kestra Advisory Services LLC purchased a new position in shares of GraniteShares HIPS US High Income ETF during the fourth quarter worth approximately $112,000. Envestnet Asset Management Inc. bought a new position in shares of GraniteShares HIPS US High Income ETF during the 2nd quarter valued at $128,000. Capital Square LLC purchased a new position in GraniteShares HIPS US High Income ETF in the 2nd quarter worth $125,000. Gateway Wealth Partners LLC purchased a new position in GraniteShares HIPS US High Income ETF in the 1st quarter worth $126,000. Finally, MGO One Seven LLC bought a new stake in GraniteShares HIPS US High Income ETF in the fourth quarter worth $143,000.

GraniteShares HIPS US High Income ETF Company Profile

(Get Free Report)

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.

Further Reading

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