abrdn Physical Palladium Shares ETF (NYSEARCA:PALL) Reaches New 12-Month High – Here’s Why

Shares of abrdn Physical Palladium Shares ETF (NYSEARCA:PALL) hit a new 52-week high on Tuesday . The stock traded as high as $161.90 and last traded at $160.50, with a volume of 675397 shares trading hands. The stock had previously closed at $156.06.

abrdn Physical Palladium Shares ETF Stock Down 7.5%

The firm’s fifty day moving average price is $134.72 and its 200-day moving average price is $117.14.

Hedge Funds Weigh In On abrdn Physical Palladium Shares ETF

A number of hedge funds have recently modified their holdings of PALL. Bank of America Corp DE boosted its holdings in shares of abrdn Physical Palladium Shares ETF by 389.6% during the second quarter. Bank of America Corp DE now owns 125,787 shares of the exchange traded fund’s stock worth $12,655,000 after purchasing an additional 100,097 shares during the period. BNP Paribas Financial Markets increased its holdings in abrdn Physical Palladium Shares ETF by 202.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 116,622 shares of the exchange traded fund’s stock valued at $13,315,000 after purchasing an additional 78,005 shares during the period. Gradient Investments LLC raised its position in abrdn Physical Palladium Shares ETF by 92.4% during the 3rd quarter. Gradient Investments LLC now owns 79,132 shares of the exchange traded fund’s stock valued at $9,034,000 after purchasing an additional 38,003 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in abrdn Physical Palladium Shares ETF by 23.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 68,035 shares of the exchange traded fund’s stock worth $7,768,000 after buying an additional 12,966 shares during the period. Finally, Manatuck Hill Partners LLC bought a new stake in shares of abrdn Physical Palladium Shares ETF in the 2nd quarter worth approximately $6,540,000. Hedge funds and other institutional investors own 23.28% of the company’s stock.

About abrdn Physical Palladium Shares ETF

ETFS Physical Palladium Shares (the Fund) is designed to offer investors a simple, cost-efficient and secure way to access the precious metals market. The Fund focuses on providing investors with a return equivalent to movements in the palladium spot price less fees. The Fund is issued by ETFS Palladium Trust (the Trust). The Fund’s sponsor is ETF Securities USA LLC, which is a wholly owned subsidiary of ETF Securities Ltd.