GraniteShares Platinum Trust (NYSEARCA:PLTM) Short Interest Down 41.7% in July

GraniteShares Platinum Trust (NYSEARCA:PLTM) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 152,128 shares, a decline of 41.7% from the July 15th total of 260,781 shares. Based on an average daily volume of 85,406 shares, the short-interest ratio is presently 1.8 days. Currently, 1.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Southeast Asset Advisors LLC bought a new stake in GraniteShares Platinum Trust during the 4th quarter worth approximately $7,076,000. PCG Wealth Advisors LLC acquired a new position in GraniteShares Platinum Trust in the third quarter worth $2,580,000. LPL Financial LLC boosted its stake in GraniteShares Platinum Trust by 35.1% in the fourth quarter. LPL Financial LLC now owns 397,727 shares of the company’s stock worth $7,847,000 after purchasing an additional 103,304 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of GraniteShares Platinum Trust during the fourth quarter worth $1,955,000. Finally, Wealth Watch Advisors INC increased its stake in shares of GraniteShares Platinum Trust by 70.1% in the fourth quarter. Wealth Watch Advisors INC now owns 239,592 shares of the company’s stock valued at $4,727,000 after buying an additional 98,739 shares in the last quarter.

GraniteShares Platinum Trust Trading Down 3.3%

PLTM stock traded down $0.57 during trading on Tuesday, hitting $16.46. 83,250 shares of the stock traded hands, compared to its average volume of 588,944. GraniteShares Platinum Trust has a one year low of $12.57 and a one year high of $27.69. The company has a 50 day simple moving average of $15.96 and a 200 day simple moving average of $18.40.

About GraniteShares Platinum Trust

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.