abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Reaches New 1-Year High – Here’s Why

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $209.09 and last traded at $208.04, with a volume of 3595320 shares changing hands. The stock had previously closed at $191.77.

abrdn Physical Platinum Shares ETF Stock Down 1.7%

The business has a 50 day simple moving average of $152.72 and a 200-day simple moving average of $136.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. West Oak Capital LLC bought a new stake in shares of abrdn Physical Platinum Shares ETF during the second quarter valued at approximately $33,000. Ball & Co Wealth Management Inc. acquired a new stake in abrdn Physical Platinum Shares ETF in the 3rd quarter valued at approximately $34,000. Raleigh Capital Management Inc. bought a new stake in abrdn Physical Platinum Shares ETF during the 3rd quarter valued at $34,000. Allworth Financial LP boosted its position in 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 acquiring an additional 172 shares during the period. Finally, Geneos Wealth Management Inc. boosted 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 acquiring an additional 412 shares during the period. 20.03% of the stock is owned by institutional investors and hedge funds.

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.