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

GraniteShares Platinum Trust (NYSEARCA:PLTM) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 392,446 shares, a decrease of 35.6% from the March 31st total of 609,295 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average trading volume of 256,761 shares, the short-interest ratio is presently 1.5 days.

Institutional Investors Weigh In On GraniteShares Platinum Trust

Several hedge funds and other institutional investors have recently made changes to their positions in PLTM. Parkside Financial Bank & Trust increased its position in shares of GraniteShares Platinum Trust by 100.0% during 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. Sound Income Strategies LLC purchased a new stake in shares of GraniteShares Platinum Trust during the 4th quarter valued at about $58,000. Steward Partners Investment Advisory LLC increased its position in shares of GraniteShares Platinum Trust by 175.7% during 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 purchased a new stake in shares of GraniteShares Platinum Trust during the 4th quarter valued at about $91,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in shares of GraniteShares Platinum Trust during the 3rd quarter valued at about $151,000.

GraniteShares Platinum Trust Price Performance

PLTM traded up $1.02 during midday trading on Thursday, hitting $19.07. 470,070 shares of the company traded hands, compared to its average volume of 968,540. The company’s 50-day moving average is $19.79 and its 200 day moving average is $19.01. GraniteShares Platinum Trust has a 52 week low of $9.24 and a 52 week 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.