GraniteShares Platinum Trust (NYSEARCA:PLTM) Sees Significant Decrease in Short Interest

GraniteShares Platinum Trust (NYSEARCA:PLTM) was the recipient of a significant drop in short interest in April. As of April 15th, there was short interest totaling 392,446 shares, a drop of 35.6% from the March 31st total of 609,295 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average trading volume of 256,761 shares, the days-to-cover ratio is presently 1.5 days.

GraniteShares Platinum Trust Stock Up 5.7%

NYSEARCA:PLTM traded up $1.02 during mid-day trading on Thursday, hitting $19.07. The stock had a trading volume of 470,070 shares, compared to its average volume of 968,540. The stock has a 50-day simple moving average of $19.79 and a two-hundred day simple moving average of $19.01. GraniteShares Platinum Trust has a twelve month low of $9.24 and a twelve month high of $27.69.

Institutional Trading of GraniteShares Platinum Trust

Several hedge funds have recently added to or reduced their stakes in PLTM. Southeast Asset Advisors LLC acquired a new stake in GraniteShares Platinum Trust during the fourth quarter worth approximately $7,076,000. PCG Wealth Advisors LLC acquired a new stake in GraniteShares Platinum Trust during the third quarter worth approximately $2,580,000. LPL Financial LLC raised its holdings in GraniteShares Platinum Trust by 35.1% during 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 acquired a new stake in GraniteShares Platinum Trust during the fourth quarter worth approximately $1,955,000. Finally, Wealth Watch Advisors INC raised its holdings in GraniteShares Platinum Trust by 70.1% during the fourth quarter. Wealth Watch Advisors INC now owns 239,592 shares of the company’s stock worth $4,727,000 after purchasing an additional 98,739 shares in the last quarter.

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.