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

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) gapped up before the market opened on Wednesday . The stock had previously closed at $16.46, but opened at $17.27. abrdn Physical Platinum Shares ETF shares last traded at $17.3240, with a volume of 523,317 shares changing hands.

abrdn Physical Platinum Shares ETF Price Performance

The business’s fifty day moving average is $15.57 and its two-hundred day moving average is $17.01.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

Several institutional investors have recently bought and sold shares of the business. CoreCap Advisors LLC raised its position in shares of abrdn Physical Platinum Shares ETF by 900.0% during the 2nd quarter. CoreCap Advisors LLC now owns 1,750 shares of the company’s stock valued at $25,000 after buying an additional 1,575 shares in the last quarter. Acumen Wealth Advisors LLC purchased a new position in abrdn Physical Platinum Shares ETF in the fourth quarter worth about $25,000. Creative Financial Designs Inc. ADV increased its stake in abrdn Physical Platinum Shares ETF by 316.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 150 shares of the company’s stock worth $28,000 after acquiring an additional 114 shares during the last quarter. Lam Group Inc. increased its stake in abrdn Physical Platinum Shares ETF by 900.0% during the second quarter. Lam Group Inc. now owns 2,500 shares of the company’s stock worth $35,000 after acquiring an additional 2,250 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in 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 valued at $39,000 after purchasing an additional 412 shares during the period. Institutional investors own 20.03% of the company’s stock.

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.