abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sees Large Drop in Short Interest

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 859,000 shares, adropof25.9% from the July 15th total of 1,160,000 shares. Currently,6.5% of the company’s stock are sold short. Based on an average daily trading volume, of 434,300 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily trading volume, of 434,300 shares, the days-to-cover ratio is currently 2.0 days. Currently,6.5% of the company’s stock are sold short.

abrdn Physical Platinum Shares ETF Price Performance

Shares of abrdn Physical Platinum Shares ETF stock opened at $123.98 on Friday. The business has a fifty day simple moving average of $123.50 and a two-hundred day simple moving average of $102.69. abrdn Physical Platinum Shares ETF has a 12 month low of $82.35 and a 12 month high of $133.80.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. JGP Global Gestao de Recursos Ltda. bought a new stake in abrdn Physical Platinum Shares ETF in the 1st quarter worth about $12,792,000. Jane Street Group LLC grew its stake in shares of abrdn Physical Platinum Shares ETF by 1,114.3% during the 4th quarter. Jane Street Group LLC now owns 111,579 shares of the company’s stock valued at $9,267,000 after purchasing an additional 102,390 shares during the period. DAVENPORT & Co LLC lifted its position in shares of abrdn Physical Platinum Shares ETF by 2,768.2% during the 2nd quarter. DAVENPORT & Co LLC now owns 86,046 shares of the company’s stock valued at $10,572,000 after buying an additional 83,046 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of abrdn Physical Platinum Shares ETF by 38.2% during the 1st quarter. CENTRAL TRUST Co now owns 255,915 shares of the company’s stock valued at $23,383,000 after buying an additional 70,795 shares in the last quarter. Finally, Intrepid Family Office LLC purchased a new position in abrdn Physical Platinum Shares ETF in the 2nd quarter worth approximately $6,144,000. 20.03% of the stock is currently owned by institutional investors.

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.