abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sees Large Volume Increase – Here’s What Happened

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) saw unusually-strong trading volume on Wednesday . Approximately 599,190 shares traded hands during mid-day trading, an increase of 50% from the previous session’s volume of 398,590 shares.The stock last traded at $187.7920 and had previously closed at $198.61.

abrdn Physical Platinum Shares ETF Stock Down 6.4%

The business’s 50-day moving average is $156.22 and its two-hundred day moving average is $138.65.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its stake in abrdn Physical Platinum Shares ETF by 2,768.2% in the second quarter. DAVENPORT & Co LLC now owns 86,046 shares of the company’s stock valued at $10,572,000 after buying an additional 83,046 shares during the last quarter. CENTRAL TRUST Co increased its holdings in shares of abrdn Physical Platinum Shares ETF by 24.3% in the 2nd quarter. CENTRAL TRUST Co now owns 318,113 shares of the company’s stock valued at $39,087,000 after acquiring an additional 62,198 shares during the period. Intrepid Family Office LLC acquired a new stake in abrdn Physical Platinum Shares ETF during the 2nd quarter worth $6,144,000. Arkadios Wealth Advisors purchased a new position in abrdn Physical Platinum Shares ETF during the 2nd quarter worth $5,257,000. Finally, Raymond James Financial Inc. increased its stake in abrdn Physical Platinum Shares ETF by 188.5% in the second quarter. Raymond James Financial Inc. now owns 63,278 shares of the company’s stock valued at $7,775,000 after purchasing an additional 41,348 shares during the period. 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.