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

GraniteShares Platinum Trust (NYSEARCA:PLTM) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 267,932 shares, a growth of 34.0% from the February 26th total of 199,916 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily volume of 452,506 shares, the days-to-cover ratio is currently 0.6 days.

GraniteShares Platinum Trust Price Performance

NYSEARCA PLTM opened at $18.22 on Tuesday. The stock has a 50-day simple moving average of $20.94 and a 200 day simple moving average of $18.29. GraniteShares Platinum Trust has a twelve month low of $8.76 and a twelve month high of $27.69.

Hedge Funds Weigh In On GraniteShares Platinum Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers boosted its holdings in GraniteShares Platinum Trust by 73.1% during the second quarter. Cetera Investment Advisers now owns 71,769 shares of the company’s stock valued at $933,000 after purchasing an additional 30,312 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of GraniteShares Platinum Trust during the second quarter worth approximately $182,000. Raymond James Financial Inc. grew its position in GraniteShares Platinum Trust by 41.8% during the 2nd quarter. Raymond James Financial Inc. now owns 201,496 shares of the company’s stock worth $2,619,000 after acquiring an additional 59,392 shares during the last quarter. IHT Wealth Management LLC raised its position in GraniteShares Platinum Trust by 9.3% in the 2nd quarter. IHT Wealth Management LLC now owns 50,735 shares of the company’s stock valued at $660,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of GraniteShares Platinum Trust in the third quarter valued at $151,000.

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.