Short Interest in GraniteShares Platinum Trust (NYSEARCA:PLTM) Grows By 156.5%

GraniteShares Platinum Trust (NYSEARCA:PLTM) saw a significant increase in short interest during the month of January. As of January 15th, there was short interest totaling 785,129 shares, an increase of 156.5% from the December 31st total of 306,102 shares. Approximately 8.8% of the company’s stock are sold short. Based on an average daily volume of 1,854,073 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 1,854,073 shares, the short-interest ratio is currently 0.4 days. Approximately 8.8% of the company’s stock are sold short.

GraniteShares Platinum Trust Trading Down 19.0%

PLTM stock traded down $4.83 during trading on Friday, reaching $20.56. The stock had a trading volume of 4,527,657 shares, compared to its average volume of 2,505,931. GraniteShares Platinum Trust has a one year low of $8.76 and a one year high of $27.69. The company’s 50 day moving average is $20.16 and its two-hundred day moving average is $16.25.

Hedge Funds Weigh In On GraniteShares Platinum Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PLTM. Wealth Management Nebraska raised its position in GraniteShares Platinum Trust by 2.5% in the fourth quarter. Wealth Management Nebraska now owns 16,881 shares of the company’s stock worth $333,000 after acquiring an additional 409 shares during the period. Sound Income Strategies LLC bought a new stake in shares of GraniteShares Platinum Trust in the 4th quarter worth approximately $58,000. Sovereign Financial Group Inc. lifted its stake in GraniteShares Platinum Trust by 25.3% in the fourth quarter. Sovereign Financial Group Inc. now owns 20,290 shares of the company’s stock valued at $400,000 after purchasing an additional 4,100 shares during the last quarter. IHT Wealth Management LLC grew its holdings in GraniteShares Platinum Trust by 9.3% during the second 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 period. Finally, Concurrent Investment Advisors LLC increased its position in GraniteShares Platinum Trust by 59.7% in the fourth quarter. Concurrent Investment Advisors LLC now owns 15,972 shares of the company’s stock worth $315,000 after buying an additional 5,968 shares during the last quarter.

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.