GraniteShares Platinum Trust reported its financial performance for the quarter ending September 30, 2024, highlighting a decrease in net assets and a decline in the value of its platinum investments. The cost of investment in platinum as of September 30, 2024, was $43.314 million, slightly down from $43.369 million as of June 30, 2024. The Trust held 42,570.323 ounces of platinum, with a total investment value of $41.932 million, reflecting a decrease in the market value of platinum, which fell from $1,012.00 per ounce on June 30, 2024, to $985.00 per ounce by September 30, 2024.
The Trust's net assets decreased from $43.119 million at the end of the previous fiscal period to $41.915 million, marking a 2.79% decline. The net asset value (NAV) per share also decreased from $9.80 to $9.53 during the same period, a reduction of 2.76%. The number of shares outstanding remained constant at 4.4 million. The highest NAV per share during the quarter was $9.91 on July 5, 2024, while the lowest was $8.80 on September 4, 2024.
The Trust reported a net decrease in net assets resulting from operations of $1.204 million for the quarter, which included an unrealized loss on investment in platinum bullion of $1.149 million. Additionally, there was a loss of $3,538 related to metal sold to cover redemption orders and the Sponsor’s fees. The Sponsor's fees for the quarter amounted to $51,796, which is 0.5% of the Trust’s average weighted net assets of $41.073 million.
As of September 30, 2024, fees payable to the Sponsor were $16.927 million, a decrease from $17.280 million as of June 30, 2024. The Trust's only recurring fee is 0.50% of the adjusted daily net asset value, paid monthly in arrears. The Trust continues to operate under a grantor trust structure, with no federal income tax at the Trust level and no reserves for uncertain tax positions required.
GraniteShares Platinum Trust remains focused on its investment objective of reflecting the performance of platinum prices, minus expenses, and continues to hold 99.97% of its assets in good delivery platinum bars. The Trust's shares trade on the NYSE Arca under the symbol “PLTM.”
About GraniteShares Platinum Trust
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