Platinum ETNs Continue To Shine
In all the buzz about gold's march higher, investors may be forgetting to pay attention to another precious metal: Platinum. Unlike gold, platinum actually has industrial uses, primarily in catalytic converters for automobiles and the ETF Professor thinks there is good reason to look at a couple of platinum ETNs.
The iPath DJ AIG Platinum TR Sub-Index ETN (NYSE: PGM) is one candidate. PGM is up 20% in the past three months and that's BETTER than the SPDR Gold Shares (NYSE: GLD).
The index that PGM is intended to reflect an investment in unleveraged platinum futures contracts.
The E-TRACS UBS Long Platinum ETN (NYSE: PTM) is another platinum ETN to watch. PTM is up a little bit more than 10% over the past three months and today PTM is trading higher on volume that is almost two-thirds higher than normal.
PTM tracks an index that holds platinum futures contracts with maturities of three months or less.
