GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Short Interest Down 31.9% in August

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the target of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 132,236 shares, a decline of 31.9% from the August 15th total of 194,294 shares. Based on an average daily volume of 56,011 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.4% of the company’s shares are sold short.

GraniteShares HIPS US High Income ETF Stock Down 1.1%

Shares of NYSEARCA:HIPS opened at $11.35 on Friday. The company has a 50 day moving average of $11.65 and a two-hundred day moving average of $11.66. The company has a market capitalization of $110.09 million, a price-to-earnings ratio of 11.61 and a beta of 0.64. GraniteShares HIPS US High Income ETF has a 52-week low of $11.28 and a 52-week high of $12.30.

GraniteShares HIPS US High Income ETF Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, August 31st. Investors of record on Thursday, August 27th were issued a $0.1075 dividend. The ex-dividend date of this dividend was Thursday, August 27th. This represents a c) dividend on an annualized basis and a yield of 11.4%.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

A number of hedge funds have recently bought and sold shares of HIPS. Maridea Wealth Management LLC grew its holdings 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 acquiring an additional 5,547 shares in the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of 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 purchasing an additional 926 shares during the last quarter. Legacy Wealth Managment LLC ID bought a new position in shares of GraniteShares HIPS US High Income ETF during the second quarter worth about $280,000. Gateway Wealth Partners LLC acquired a new position in GraniteShares HIPS US High Income ETF in the first quarter worth about $126,000. Finally, Capital Square LLC acquired a new position in GraniteShares HIPS US High Income ETF in the second quarter worth about $125,000.

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.