Cornerstone Wealth Management LLC Has $1.53 Million Holdings in GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)

Cornerstone Wealth Management LLC cut its stake in GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) by 0.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,983 shares of the company’s stock after selling 842 shares during the period. Cornerstone Wealth Management LLC owned about 2.53% of GraniteShares HIPS US High Income ETF worth $1,530,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HIPS. Tennessee Valley Asset Management Partners acquired a new stake in GraniteShares HIPS US High Income ETF during the 4th quarter valued at $83,000. International Assets Investment Management LLC acquired a new stake in GraniteShares HIPS US High Income ETF during the 4th quarter valued at $156,000. Advisor Resource Council acquired a new stake in GraniteShares HIPS US High Income ETF during the 4th quarter valued at $228,000. Finally, RHS Financial LLC acquired a new stake in shares of GraniteShares HIPS US High Income ETF in the 4th quarter valued at $447,000.

GraniteShares HIPS US High Income ETF Stock Performance

NYSEARCA HIPS opened at $12.92 on Friday. The stock has a fifty day moving average of $12.75 and a 200-day moving average of $12.62. The stock has a market capitalization of $74.29 million, a P/E ratio of 0.86 and a beta of 0.49. GraniteShares HIPS US High Income ETF has a 52 week low of $11.39 and a 52 week high of $13.00.

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.