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

Shares of abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) gapped down before the market opened on Friday . The stock had previously closed at $218.67, but opened at $209.84. abrdn Physical Platinum Shares ETF shares last traded at $206.3250, with a volume of 550,165 shares.

abrdn Physical Platinum Shares ETF Stock Down 4.5%

The company has a fifty day moving average price of $171.11 and a 200 day moving average price of $145.59.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. West Oak Capital LLC bought a new position in abrdn Physical Platinum Shares ETF in the second quarter worth about $33,000. Team Financial Group LLC purchased a new position in abrdn Physical Platinum Shares ETF during the fourth quarter valued at $33,000. Ball & Co Wealth Management Inc. bought a new stake in shares of abrdn Physical Platinum Shares ETF during the 3rd quarter valued at $34,000. Raleigh Capital Management Inc. purchased a new stake in abrdn Physical Platinum Shares ETF in the third quarter worth about $34,000. Finally, Allworth Financial LP boosted its stake in abrdn Physical Platinum Shares ETF by 137.6% in the 2nd quarter. Allworth Financial LP now owns 297 shares of the company’s stock worth $36,000 after purchasing an additional 172 shares in the last quarter. 20.03% of the stock is currently owned by institutional investors.

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.