abrdn Physical Palladium Shares ETF (NYSEARCA:PALL) Shares Gap Down – Here’s Why

abrdn Physical Palladium Shares ETF (NYSEARCA:PALL)’s share price gapped down before the market opened on Friday . The stock had previously closed at $182.47, but opened at $165.66. abrdn Physical Palladium Shares ETF shares last traded at $165.0120, with a volume of 256,073 shares traded.

abrdn Physical Palladium Shares ETF Trading Down 15.7%

The stock has a fifty day moving average of $153.60 and a two-hundred day moving average of $129.31.

Institutional Investors Weigh In On abrdn Physical Palladium Shares ETF

Several hedge funds and other institutional investors have recently made changes to their positions in PALL. Jones Financial Companies Lllp boosted its stake in shares of abrdn Physical Palladium Shares ETF by 10,367.5% in the 1st quarter. Jones Financial Companies Lllp now owns 8,374 shares of the exchange traded fund’s stock valued at $758,000 after purchasing an additional 8,294 shares during the last quarter. HB Wealth Management LLC bought a new position in abrdn Physical Palladium Shares ETF during the second quarter worth about $211,000. Fortis Capital Advisors LLC acquired a new position in shares of abrdn Physical Palladium Shares ETF in the 2nd quarter valued at approximately $2,111,000. Belpointe Asset Management LLC acquired a new position in shares of abrdn Physical Palladium Shares ETF in the second quarter valued at approximately $2,111,000. Finally, Mutual Advisors LLC boosted its stake in abrdn Physical Palladium Shares ETF by 27.1% in the 2nd quarter. Mutual Advisors LLC now owns 4,529 shares of the exchange traded fund’s stock worth $506,000 after purchasing an additional 966 shares during the period. 23.28% of the stock is owned by institutional investors and hedge funds.

About abrdn Physical Palladium Shares ETF

ETFS Physical Palladium Shares (the Fund) is designed to offer investors a simple, cost-efficient and secure way to access the precious metals market. The Fund focuses on providing investors with a return equivalent to movements in the palladium spot price less fees. The Fund is issued by ETFS Palladium Trust (the Trust). The Fund’s sponsor is ETF Securities USA LLC, which is a wholly owned subsidiary of ETF Securities Ltd.