abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Shares Gap Up – Should You Buy?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $204.50, but opened at $214.25. abrdn Physical Platinum Shares ETF shares last traded at $218.0050, with a volume of 355,758 shares.

abrdn Physical Platinum Shares ETF Stock Up 8.3%

The firm has a 50 day moving average price of $159.92 and a 200-day moving average price of $140.77.

Institutional Trading of abrdn Physical Platinum Shares ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. West Oak Capital LLC purchased a new position in shares of abrdn Physical Platinum Shares ETF during the second quarter valued at approximately $33,000. Ball & Co Wealth Management Inc. purchased a new position in abrdn Physical Platinum Shares ETF during the 3rd quarter valued at $34,000. Raleigh Capital Management Inc. bought a new position in abrdn Physical Platinum Shares ETF in the 3rd quarter valued at $34,000. Allworth Financial LP increased its stake in abrdn Physical Platinum Shares ETF by 137.6% in the second quarter. Allworth Financial LP now owns 297 shares of the company’s stock worth $36,000 after purchasing an additional 172 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in abrdn Physical Platinum Shares ETF by 2,060.0% in 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 during the period. 20.03% of the stock is 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.