Short Interest in GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Rises By 71.7%

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 139,709 shares, a growth of 71.7% from the April 30th total of 81,381 shares. Based on an average daily trading volume, of 50,533 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC raised its stake in shares of GraniteShares HIPS US High Income ETF by 2.8% in the first quarter. Chicago Partners Investment Group LLC now owns 34,387 shares of the company’s stock worth $411,000 after buying an additional 926 shares during the period. Silver Oak Securities Incorporated raised its stake in GraniteShares HIPS US High Income ETF by 9.7% during the 4th quarter. Silver Oak Securities Incorporated now owns 15,337 shares of the company’s stock valued at $179,000 after purchasing an additional 1,359 shares during the period. Private Advisor Group LLC raised its stake in GraniteShares HIPS US High Income ETF by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 80,966 shares of the company’s stock valued at $955,000 after purchasing an additional 2,531 shares during the period. Jane Street Group LLC raised its stake 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 valued at $496,000 after purchasing an additional 5,312 shares during the period. Finally, Maridea Wealth Management LLC raised its stake 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 valued at $523,000 after purchasing an additional 5,547 shares during the period.

GraniteShares HIPS US High Income ETF Stock Down 0.8%

NYSEARCA HIPS opened at $11.53 on Thursday. The stock’s 50-day moving average price is $11.76 and its 200-day moving average price is $11.84. GraniteShares HIPS US High Income ETF has a 52 week low of $11.39 and a 52 week high of $12.46. The company has a market capitalization of $100.31 million, a P/E ratio of 11.61 and a beta of 0.65.

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.