Sprott Physical Platinum & Palladium Tr (NYSEARCA:SPPP) Sees Significant Drop in Short Interest

Sprott Physical Platinum & Palladium Tr (NYSEARCA:SPPP) was the recipient of a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 67,965 shares, a decrease of 44.7% from the July 30th total of 122,802 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 769,745 shares, the days-to-cover ratio is currently 0.1 days.

Sprott Physical Platinum & Palladium Tr Trading Down 1.7%

Shares of NYSEARCA SPPP traded down $0.26 during mid-day trading on Monday, reaching $14.69. 1,410,664 shares of the company’s stock were exchanged, compared to its average volume of 788,171. The firm has a 50-day moving average price of $13.51 and a two-hundred day moving average price of $14.99. Sprott Physical Platinum & Palladium Tr has a 52 week low of $11.87 and a 52 week high of $23.81.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC purchased a new stake in shares of Sprott Physical Platinum & Palladium Tr during the 3rd quarter worth approximately $38,000. CIBC Private Wealth Group LLC purchased a new position in Sprott Physical Platinum & Palladium Tr in the fourth quarter valued at approximately $45,000. Ameritas Advisory Services LLC bought a new position in Sprott Physical Platinum & Palladium Tr during the second quarter valued at $50,000. Compass Financial Management LLC bought a new position in Sprott Physical Platinum & Palladium Tr during the second quarter valued at $54,000. Finally, AdvisorNet Financial Inc increased its position in Sprott Physical Platinum & Palladium Tr by 123.8% in the first quarter. AdvisorNet Financial Inc now owns 4,835 shares of the company’s stock worth $75,000 after buying an additional 2,675 shares during the last quarter.

Sprott Physical Platinum & Palladium Tr Company Profile

Sprott Physical Platinum and Palladium Trust is an exchange traded commodity launched and managed by Sprott Asset Management, LP. The fund invests in commodity markets. It invests in physical platinum and palladium bullion in Good Delivery plate or ingot form. Sprott Physical Platinum and Palladium Trust was formed on December 23, 2011 and is domiciled in Canada.