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 Wednesday. The stock had previously closed at $15.47, but opened at $14.68. abrdn Physical Platinum Shares ETF shares last traded at $14.7350, with a volume of 858,736 shares traded.

abrdn Physical Platinum Shares ETF Price Performance

The firm’s 50 day moving average price is $16.00 and its two-hundred day moving average price is $16.53.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

Several institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC boosted its position in shares of abrdn Physical Platinum Shares ETF by 840.2% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 17,102 shares of the company’s stock worth $242,000 after purchasing an additional 15,283 shares in the last quarter. Corient Private Wealth LP increased its position in abrdn Physical Platinum Shares ETF by 295.4% in the 2nd quarter. Corient Private Wealth LP now owns 11,530 shares of the company’s stock valued at $163,000 after buying an additional 8,614 shares in the last quarter. HB Wealth Management LLC raised its stake in abrdn Physical Platinum Shares ETF by 1,075.6% during the 2nd quarter. HB Wealth Management LLC now owns 15,400 shares of the company’s stock worth $218,000 after buying an additional 14,090 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in abrdn Physical Platinum Shares ETF by 900.0% in the second quarter. TD Waterhouse Canada Inc. now owns 10,550 shares of the company’s stock worth $151,000 after acquiring an additional 9,495 shares in the last quarter. Finally, WIT Partners Advisory Pte. Ltd. boosted its holdings in 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 acquiring an additional 531,521 shares in the last quarter. Institutional investors and hedge funds own 20.03% of the company’s stock.

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.