abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Shares Gap Down – Here’s Why

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s share price gapped down prior to trading on Friday . The stock had previously closed at $218.67, but opened at $209.84. abrdn Physical Platinum Shares ETF shares last traded at $206.3250, with a volume of 550,165 shares changing hands.

abrdn Physical Platinum Shares ETF Stock Performance

The firm’s 50-day simple moving average is $172.48 and its two-hundred day simple moving average is $146.35.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPLT. Benjamin Edwards Inc. increased its holdings in shares of abrdn Physical Platinum Shares ETF by 2.5% in the third quarter. Benjamin Edwards Inc. now owns 3,063 shares of the company’s stock valued at $438,000 after purchasing an additional 75 shares during the period. Compound Planning Inc. boosted its position in abrdn Physical Platinum Shares ETF by 0.9% in the third quarter. Compound Planning Inc. now owns 9,136 shares of the company’s stock valued at $1,305,000 after buying an additional 83 shares during the last quarter. MAI Capital Management increased its holdings in abrdn Physical Platinum Shares ETF by 34.1% in the 3rd quarter. MAI Capital Management now owns 492 shares of the company’s stock worth $70,000 after buying an additional 125 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in abrdn Physical Platinum Shares ETF by 3.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,304 shares of the company’s stock worth $989,000 after buying an additional 170 shares during the period. Finally, Allworth Financial LP raised its position in abrdn Physical Platinum Shares ETF by 137.6% during the 2nd quarter. Allworth Financial LP now owns 297 shares of the company’s stock worth $36,000 after buying an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 20.03% of the company’s stock.

About abrdn Physical Platinum Shares ETF

The abrdn Physical Platinum Shares ETF (PPLT) is an exchange-traded fund that is based on the Platinum London PM Fix index. The fund tracks the platinum spot price, less trust expenses, using platinum bullion. PPLT was launched on Jan 8, 2010 and is managed by Abrdn.