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

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)’s share price traded up 0.2% on Friday . The company traded as high as $12.29 and last traded at $12.27. 111,589 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 144,672 shares. The stock had previously closed at $12.24.

GraniteShares HIPS US High Income ETF Stock Up 0.2%

The stock’s 50-day moving average price is $11.83 and its 200 day moving average price is $11.97. The firm has a market cap of $111.66 million, a price-to-earnings ratio of 11.61 and a beta of 0.78.

Institutional Trading of GraniteShares HIPS US High Income ETF

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its holdings in GraniteShares HIPS US High Income ETF by 15.8% during the 1st quarter. Jane Street Group LLC now owns 39,015 shares of the company’s stock worth $496,000 after buying an additional 5,312 shares in the last quarter. Silver Oak Securities Incorporated acquired a new stake in shares of GraniteShares HIPS US High Income ETF in the 2nd quarter valued at $127,000. Maridea Wealth Management LLC raised its position in shares of GraniteShares HIPS US High Income ETF by 150.7% during the second quarter. Maridea Wealth Management LLC now owns 46,307 shares of the company’s stock worth $561,000 after acquiring an additional 27,838 shares during the last quarter. Truist Financial Corp lifted its stake in shares of GraniteShares HIPS US High Income ETF by 4.5% during the second quarter. Truist Financial Corp now owns 41,703 shares of the company’s stock valued at $505,000 after acquiring an additional 1,804 shares during the period. Finally, SimpliFi Inc. lifted its stake in shares of GraniteShares HIPS US High Income ETF by 3.2% during the second quarter. SimpliFi Inc. now owns 616,713 shares of the company’s stock valued at $7,465,000 after acquiring an additional 18,840 shares during the period.

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.