Trek Financial LLC Trims Stock Position in Platinum Group Metals Ltd. $PLG

Trek Financial LLC decreased its stake in Platinum Group Metals Ltd. (NYSE:PLG) by 65.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 695,382 shares of the company’s stock after selling 1,307,784 shares during the period. Trek Financial LLC’s holdings in Platinum Group Metals were worth $1,843,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PLG. Cetera Investment Advisers lifted its position in Platinum Group Metals by 75.7% in the second quarter. Cetera Investment Advisers now owns 22,825 shares of the company’s stock valued at $35,000 after acquiring an additional 9,834 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Platinum Group Metals during the second quarter worth about $70,000. Apella Capital LLC increased its position in shares of Platinum Group Metals by 44.3% during the third quarter. Apella Capital LLC now owns 29,300 shares of the company’s stock worth $81,000 after purchasing an additional 9,000 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Platinum Group Metals by 182.0% in the 2nd quarter. Jane Street Group LLC now owns 105,718 shares of the company’s stock valued at $162,000 after purchasing an additional 68,223 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Platinum Group Metals in the 2nd quarter valued at about $328,000. 16.33% of the stock is owned by hedge funds and other institutional investors.

Platinum Group Metals Stock Up 18.8%

NYSE:PLG opened at $3.47 on Friday. The company has a market capitalization of $427.04 million, a PE ratio of -57.83 and a beta of 1.19. Platinum Group Metals Ltd. has a 52-week low of $0.99 and a 52-week high of $3.49. The stock’s 50 day moving average price is $2.50 and its 200 day moving average price is $2.15.

About Platinum Group Metals

Platinum Group Metals Ltd is a mineral exploration and development company focused on the discovery and advancement of platinum group metal (PGM) deposits. The company’s flagship asset is the Waterberg Joint Venture Project located in South Africa’s Bushveld Complex, one of the world’s premier PGM-producing regions. In addition to its Waterberg interests, Platinum Group Metals holds the Marathon PGM project near Thunder Bay, Ontario, which is being advanced towards feasibility on the strength of its high-grade PGM and gold mineralization.

Since its inception, the company has pursued a strategy of combining regional geological expertise with strategic partnerships to de-risk project development and enhance shareholder value.