abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Short Interest Update

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) was the recipient of a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 12,026,313 shares, an increase of 1,036.7% from the May 14th total of 1,058,016 shares. Approximately 8.6% of the shares of the stock are sold short. Based on an average trading volume of 1,428,970 shares, the days-to-cover ratio is presently 8.4 days.

abrdn Physical Platinum Shares ETF Stock Performance

Shares of NYSEARCA:PPLT traded down $0.44 during trading on Wednesday, reaching $15.19. 2,023,334 shares of the company traded hands, compared to its average volume of 6,054,500. abrdn Physical Platinum Shares ETF has a 52 week low of $11.07 and a 52 week high of $26.16. The company’s 50 day moving average is $17.99 and its two-hundred day moving average is $18.52.

Institutional Investors Weigh In On abrdn Physical Platinum Shares ETF

Several hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in shares of abrdn Physical Platinum Shares ETF by 5,730.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 346,804 shares of the company’s stock worth $64,655,000 after acquiring an additional 340,856 shares during the last quarter. Corient Private Wealth LLC raised its position in shares of abrdn Physical Platinum Shares ETF by 12,472.1% during the fourth quarter. Corient Private Wealth LLC now owns 187,073 shares of the company’s stock worth $34,876,000 after acquiring an additional 185,585 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of abrdn Physical Platinum Shares ETF by 135.3% during the fourth quarter. BNP Paribas Financial Markets now owns 174,974 shares of the company’s stock worth $32,620,000 after acquiring an additional 100,602 shares during the last quarter. Morgan Stanley raised its position in shares of abrdn Physical Platinum Shares ETF by 29.3% during the fourth quarter. Morgan Stanley now owns 326,667 shares of the company’s stock worth $60,901,000 after acquiring an additional 74,090 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of abrdn Physical Platinum Shares ETF by 247.0% during the fourth quarter. JPMorgan Chase & Co. now owns 84,669 shares of the company’s stock worth $15,785,000 after acquiring an additional 60,267 shares during the last quarter. Institutional investors and hedge funds 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.