abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sets New 12-Month High – Here’s Why

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s share price hit a new 52-week high on Tuesday . The company traded as high as $111.45 and last traded at $111.10, with a volume of 654881 shares changing hands. The stock had previously closed at $107.00.

abrdn Physical Platinum Shares ETF Price Performance

The stock has a fifty day moving average of $91.78 and a two-hundred day moving average of $89.05.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

Several hedge funds and other institutional investors have recently modified their holdings of PPLT. Geneos Wealth Management Inc. lifted its stake in shares of abrdn Physical Platinum Shares ETF by 2,060.0% during the first quarter. Geneos Wealth Management Inc. now owns 432 shares of the company’s stock worth $39,000 after purchasing an additional 412 shares in the last quarter. US Bancorp DE bought a new stake in shares of abrdn Physical Platinum Shares ETF in the first quarter worth $41,000. EverSource Wealth Advisors LLC increased its position in shares of abrdn Physical Platinum Shares ETF by 1,351.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 537 shares of the company’s stock worth $45,000 after purchasing an additional 500 shares during the last quarter. Signaturefd LLC bought a new stake in abrdn Physical Platinum Shares ETF in the first quarter valued at about $76,000. Finally, Pandora Wealth Inc. bought a new stake in abrdn Physical Platinum Shares ETF in the first quarter valued at about $91,000.

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.