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

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s stock price gapped down before the market opened on Wednesday. The stock had previously closed at $15.47, but opened at $14.68. abrdn Physical Platinum Shares ETF shares last traded at $14.7350, with a volume of 858,736 shares traded.

abrdn Physical Platinum Shares ETF Stock Up 0.3%

The business’s 50-day moving average is $16.00 and its two-hundred day moving average is $16.47.

Institutional Trading of abrdn Physical Platinum Shares ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. WIT Partners Advisory Pte. Ltd. increased its position in abrdn Physical Platinum Shares ETF by 2,314.0% during the second quarter. WIT Partners Advisory Pte. Ltd. now owns 554,491 shares of the company’s stock worth $7,835,000 after buying an additional 531,521 shares during the period. CENTRAL TRUST Co grew its position in shares of abrdn Physical Platinum Shares ETF by 12.5% during the first quarter. CENTRAL TRUST Co now owns 358,153 shares of the company’s stock worth $63,834,000 after acquiring an additional 39,841 shares during the last quarter. Proficio Capital Partners LLC grew its position in shares of abrdn Physical Platinum Shares ETF by 286.0% during the second quarter. Proficio Capital Partners LLC now owns 235,390 shares of the company’s stock worth $3,326,000 after acquiring an additional 174,411 shares during the last quarter. Confluence Investment Management LLC increased its holdings in shares of abrdn Physical Platinum Shares ETF by 1,284.3% in the 2nd quarter. Confluence Investment Management LLC now owns 75,305 shares of the company’s stock valued at $1,064,000 after acquiring an additional 69,865 shares during the period. Finally, Briaud Financial Planning Inc raised its position in abrdn Physical Platinum Shares ETF by 896.1% in the 2nd quarter. Briaud Financial Planning Inc now owns 66,240 shares of the company’s stock valued at $936,000 after purchasing an additional 59,590 shares during the last quarter. 20.03% of the stock is owned by hedge funds and other institutional investors.

abrdn Physical Platinum Shares ETF Company Profile

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.