GraniteShares Platinum Shares has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports a decrease in net assets from $43,119,274 on June 30, 2024, to $41,914,842 on September 30, 2024. This decline is attributed to a decrease in the price of platinum from $1,012.00 to $985.00 per ounce during the same period.
The Trust's net asset value per share decreased from $9.80 to $9.53, reflecting a 2.76% decrease, which is slightly more than the 2.67% decrease in the price of platinum. The reduction in net asset value per share is also due to the Sponsor's fees.
The Trust's net decrease in net assets resulting from operations for the quarter was $1,204,433. This includes an unrealized loss on investment in platinum bullion of $1,149,099 and Sponsor's fees of $51,796.
The Trust's investment in platinum decreased from 42,625.054 ounces on June 30, 2024, to 42,570.323 ounces on September 30, 2024, due to the distribution of platinum.
The Trust did not create or redeem any shares during the quarter, and the number of shares outstanding remained at 4,400,000.
The Trust's sole business activity is investing in platinum, and it is not registered as an investment company under the Investment Company Act of 1940.
The Trust's expenses are primarily the Sponsor's fees, which are calculated at an annualized rate of 0.50% of the Trust's net asset value.
The Trust does not have any off-balance sheet arrangements and is not aware of any trends or uncertainties that could materially affect its liquidity needs.
The Trust's financial statements are prepared in accordance with accounting principles generally accepted in the United States of America, with the valuation of platinum bullion being a critical accounting policy.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the GraniteShares Platinum Shares quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.