Short Interest in GraniteShares Platinum Trust (NYSEARCA:PLTM) Drops By 52.5%

GraniteShares Platinum Trust (NYSEARCA:PLTM) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 151,221 shares, a drop of 52.5% from the April 30th total of 318,607 shares. Based on an average trading volume of 319,684 shares, the short-interest ratio is currently 0.5 days. Approximately 1.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. bought a new stake in shares of GraniteShares Platinum Trust in the 1st quarter worth about $36,000. Parkside Financial Bank & Trust lifted its position in shares of GraniteShares Platinum Trust by 100.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,878 shares of the company’s stock worth $37,000 after purchasing an additional 939 shares during the last quarter. Sound Income Strategies LLC acquired a new position in GraniteShares Platinum Trust in the fourth quarter worth about $58,000. Steward Partners Investment Advisory LLC increased its holdings in GraniteShares Platinum Trust by 175.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,377 shares of the company’s stock valued at $67,000 after buying an additional 2,152 shares during the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in GraniteShares Platinum Trust in the fourth quarter valued at about $91,000.

GraniteShares Platinum Trust Price Performance

PLTM stock traded up $0.11 during trading on Tuesday, reaching $18.60. 142,218 shares of the stock traded hands, compared to its average volume of 815,324. The business’s 50 day moving average price is $19.14 and its 200-day moving average price is $19.58. GraniteShares Platinum Trust has a 52-week low of $10.19 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.