abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Stock Falls 0.4% – Here’s Why

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s stock price dropped 0.4% during mid-day trading on Wednesday. The company traded as low as $15.35 and last traded at $15.41. 2,304,226 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 4,598,315 shares. The stock had previously closed at $15.47.

abrdn Physical Platinum Shares ETF Price Performance

The business has a 50-day simple moving average of $15.94 and a 200-day simple moving average of $16.61.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its stake in abrdn Physical Platinum Shares ETF by 840.2% in the second quarter. Integrated Wealth Concepts LLC now owns 17,102 shares of the company’s stock valued at $242,000 after purchasing an additional 15,283 shares during the last quarter. Corient Private Wealth LP boosted its holdings in shares of abrdn Physical Platinum Shares ETF by 295.4% in the 2nd quarter. Corient Private Wealth LP now owns 11,530 shares of the company’s stock valued at $163,000 after buying an additional 8,614 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of abrdn Physical Platinum Shares ETF by 1,075.6% in the 2nd quarter. HB Wealth Management LLC now owns 15,400 shares of the company’s stock valued at $218,000 after buying an additional 14,090 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in shares of abrdn Physical Platinum Shares ETF by 900.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 10,550 shares of the company’s stock valued at $151,000 after buying an additional 9,495 shares during the last quarter. Finally, WIT Partners Advisory Pte. Ltd. grew its position in shares of abrdn Physical Platinum Shares ETF by 2,314.0% in the 2nd quarter. WIT Partners Advisory Pte. Ltd. now owns 554,491 shares of the company’s stock valued at $7,835,000 after buying an additional 531,521 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.