Kovack Advisors Inc. Sells 900 Shares of GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)

Kovack Advisors Inc. cut its stake in GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,467 shares of the company’s stock after selling 900 shares during the quarter. Kovack Advisors Inc.’s holdings in GraniteShares HIPS US High Income ETF were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Private Advisor Group LLC grew its holdings in GraniteShares HIPS US High Income ETF by 266.1% during the 3rd quarter. Private Advisor Group LLC now owns 52,452 shares of the company’s stock valued at $681,000 after buying an additional 38,125 shares in the last quarter. SimpliFi Inc. boosted its stake in shares of GraniteShares HIPS US High Income ETF by 2.6% during the 2nd quarter. SimpliFi Inc. now owns 511,577 shares of the company’s stock worth $6,553,000 after purchasing an additional 12,724 shares during the period. International Assets Investment Management LLC grew its holdings in GraniteShares HIPS US High Income ETF by 1,198.4% during the 3rd quarter. International Assets Investment Management LLC now owns 12,984 shares of the company’s stock valued at $1,690,000 after purchasing an additional 11,984 shares during the last quarter. Moloney Securities Asset Management LLC purchased a new stake in GraniteShares HIPS US High Income ETF in the 3rd quarter worth about $142,000. Finally, Grimes & Company Inc. lifted its stake in GraniteShares HIPS US High Income ETF by 15.6% in the third quarter. Grimes & Company Inc. now owns 59,946 shares of the company’s stock worth $778,000 after purchasing an additional 8,110 shares during the last quarter.

GraniteShares HIPS US High Income ETF Stock Performance

HIPS opened at $13.02 on Friday. GraniteShares HIPS US High Income ETF has a one year low of $11.90 and a one year high of $13.22. The stock has a market cap of $74.87 million, a price-to-earnings ratio of 0.86 and a beta of 0.49. The stock’s 50 day moving average price is $12.92 and its 200-day moving average price is $12.85.

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.