abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sets New 1-Year Low – Here’s What Happened

Shares of abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) hit a new 52-week low during trading on Tuesday. The company traded as low as $12.86 and last traded at $12.8650, with a volume of 1,280,686 shares trading hands. The stock had previously closed at $13.07.

abrdn Physical Platinum Shares ETF Price Performance

The business’s 50-day moving average is $15.47 and its 200 day moving average is $17.17.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

A number of hedge funds have recently added to or reduced their stakes in PPLT. Rakuten Investment Management Inc. purchased a new stake in shares of abrdn Physical Platinum Shares ETF during the 3rd quarter worth approximately $31,690,000. WIT Partners Advisory Pte. Ltd. raised its holdings in shares of abrdn Physical Platinum Shares ETF by 2,314.0% in the second quarter. WIT Partners Advisory Pte. Ltd. now owns 554,491 shares of the company’s stock worth $7,835,000 after buying an additional 531,521 shares during the period. Proficio Capital Partners LLC lifted its position in shares of abrdn Physical Platinum Shares ETF by 286.0% during the second quarter. Proficio Capital Partners LLC now owns 235,390 shares of the company’s stock worth $3,326,000 after purchasing an additional 174,411 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in abrdn Physical Platinum Shares ETF in the 3rd quarter valued at about $1,541,000. Finally, Confluence Investment Management LLC lifted its holdings in shares of abrdn Physical Platinum Shares ETF by 1,284.3% in the 2nd quarter. Confluence Investment Management LLC now owns 75,305 shares of the company’s stock worth $1,064,000 after buying an additional 69,865 shares during the period. 20.03% of the stock is currently owned by hedge funds and other institutional investors.

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.