Date: Dec 5, 2018
Platinum Group Metals Limited (NYSEAMERICAN:PLG) (TSE:PTM) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 4,770,785 shares, a drop of 9.9% from the September 28th total of 5,297,238 shares. Based on an average daily trading volume, of 976,629 shares, the days-to-cover ratio is currently 4.9 days.
Several institutional investors have recently made changes to their positions in PLG. Liberty Mutual Group Asset Management Inc. grew its stake in Platinum Group Metals by 123.8% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 36,160,609 shares of the basic materials company’s stock worth $3,813,000 after purchasing an additional 20,000,000 shares in the last quarter. CQS Cayman LP grew its stake in Platinum Group Metals by 338.7% in the third quarter. CQS Cayman LP now owns 4,317,158 shares of the basic materials company’s stock worth $767,000 after purchasing an additional 3,333,000 shares in the last quarter. Finally, Investec Asset Management LTD acquired a new position in Platinum Group Metals in the second quarter worth about $132,000.
