abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Shares Gap Down – Time to Sell?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) gapped down before the market opened on Monday . The stock had previously closed at $220.14, but opened at $198.03. abrdn Physical Platinum Shares ETF shares last traded at $194.1520, with a volume of 960,128 shares trading hands.

abrdn Physical Platinum Shares ETF Price Performance

The company’s 50-day moving average is $154.20 and its 200-day moving average is $137.51.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. West Oak Capital LLC purchased a new stake in abrdn Physical Platinum Shares ETF during the second quarter valued at about $33,000. Ball & Co Wealth Management Inc. acquired a new position in shares of abrdn Physical Platinum Shares ETF in the 3rd quarter valued at about $34,000. Raleigh Capital Management Inc. purchased a new stake in shares of abrdn Physical Platinum Shares ETF during the 3rd quarter worth about $34,000. Allworth Financial LP grew its holdings in shares of abrdn Physical Platinum Shares ETF by 137.6% during the 2nd 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 position in abrdn Physical Platinum Shares ETF by 2,060.0% during the 1st 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. 20.03% of the stock is owned by hedge funds and other institutional investors.

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.