GraniteShares Platinum Trust (NYSEARCA:PLTM) Sees Large Drop in Short Interest

GraniteShares Platinum Trust (NYSEARCA:PLTM) was the recipient of a significant drop in short interest in August. As of August 14th, there was short interest totaling 84,694 shares, a drop of 44.3% from the July 30th total of 152,128 shares. Based on an average daily volume of 139,222 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.7% of the shares of the stock are sold short.

Institutional Trading of GraniteShares Platinum Trust

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. purchased a new position in GraniteShares Platinum Trust in the first quarter worth about $36,000. Parkside Financial Bank & Trust lifted its stake in shares of GraniteShares Platinum Trust by 100.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,878 shares of the company’s stock valued at $37,000 after purchasing an additional 939 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of GraniteShares Platinum Trust by 175.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,377 shares of the company’s stock valued at $67,000 after purchasing an additional 2,152 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of GraniteShares Platinum Trust in the 4th quarter valued at approximately $91,000. Finally, Citadel Advisors LLC purchased a new position in shares of GraniteShares Platinum Trust in the 3rd quarter worth approximately $166,000.

GraniteShares Platinum Trust Trading Down 2.8%

PLTM traded down $0.48 during trading hours on Tuesday, hitting $16.74. The company’s stock had a trading volume of 211,637 shares, compared to its average volume of 566,526. The business’s 50-day moving average price is $16.16 and its 200-day moving average price is $18.12. GraniteShares Platinum Trust has a 12 month low of $13.07 and a 12 month high of $27.69.

GraniteShares Platinum Trust Company Profile

The GraniteShares Platinum Trust (PLTM) is an exchange-traded fund that is based on the Platinum London PM Fix index. The fund tracks the platinum spot price, less trust expenses and liabilities, using physically held platinum. PLTM was launched on Jan 22, 2018 and is managed by GraniteShares.