abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Reaches New 52-Week Low – Time to Sell?

Shares of abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) reached a new 52-week low during trading on Tuesday. The stock traded as low as $13.70 and last traded at $13.7860, with a volume of 244,131 shares changing hands. The stock had previously closed at $13.83.

abrdn Physical Platinum Shares ETF Stock Performance

The company has a 50-day moving average of $15.80 and a 200-day moving average of $17.39.

Institutional Investors Weigh In On abrdn Physical Platinum Shares ETF

Large investors have recently bought and sold shares of the stock. Assetmark Inc. increased its position in abrdn Physical Platinum Shares ETF by 522.0% during the first quarter. Assetmark Inc. now owns 255 shares of the company’s stock worth $45,000 after buying an additional 214 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of abrdn Physical Platinum Shares ETF by 570.0% in the first quarter. Parallel Advisors LLC now owns 335 shares of the company’s stock valued at $60,000 after acquiring an additional 285 shares in the last quarter. Legacy Wealth Managment LLC ID lifted its position in shares of abrdn Physical Platinum Shares ETF by 375.0% in the first quarter. Legacy Wealth Managment LLC ID now owns 475 shares of the company’s stock valued at $85,000 after acquiring an additional 375 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of abrdn Physical Platinum Shares ETF in the first quarter valued at $106,000. Finally, Bogart Wealth LLC boosted its stake in shares of abrdn Physical Platinum Shares ETF by 800.0% during the first quarter. Bogart Wealth LLC now owns 1,125 shares of the company’s stock valued at $201,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 20.03% of the company’s stock.

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.