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

Shares of abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) gapped down before the market opened on Friday . The stock had previously closed at $239.13, but opened at $208.29. abrdn Physical Platinum Shares ETF shares last traded at $207.5840, with a volume of 530,549 shares changing hands.

abrdn Physical Platinum Shares ETF Stock Performance

The company has a 50 day simple moving average of $189.35 and a 200 day simple moving average of $153.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PPLT. Kestra Private Wealth Services LLC purchased a new stake in abrdn Physical Platinum Shares ETF during the fourth quarter worth approximately $327,000. UBS Group AG lifted its holdings in shares of abrdn Physical Platinum Shares ETF by 4.0% during the 4th quarter. UBS Group AG now owns 179,447 shares of the company’s stock valued at $33,454,000 after acquiring an additional 6,863 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in abrdn Physical Platinum Shares ETF by 1,390.2% during the 4th quarter. Geneos Wealth Management Inc. now owns 13,412 shares of the company’s stock worth $2,500,000 after purchasing an additional 12,512 shares during the period. WMG Financial Advisors LLC boosted its position in abrdn Physical Platinum Shares ETF by 69.2% during the 4th quarter. WMG Financial Advisors LLC now owns 5,870 shares of the company’s stock worth $1,094,000 after purchasing an additional 2,400 shares during the period. Finally, Evergreen Capital Management LLC acquired a new stake in abrdn Physical Platinum Shares ETF in the 4th quarter valued at $246,000. 20.03% of the stock is owned by institutional investors and hedge funds.

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.