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

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) shares gapped down prior to trading on Friday . The stock had previously closed at $239.13, but opened at $208.29. abrdn Physical Platinum Shares ETF shares last traded at $207.5840, with a volume of 530,549 shares trading hands.

abrdn Physical Platinum Shares ETF Price Performance

The business’s fifty day simple moving average is $190.49 and its two-hundred day simple moving average is $153.78.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

A number of hedge funds have recently bought and sold shares of PPLT. CENTRAL TRUST Co grew its holdings in abrdn Physical Platinum Shares ETF by 4.1% in the third quarter. CENTRAL TRUST Co now owns 331,313 shares of the company’s stock valued at $47,338,000 after purchasing an additional 13,200 shares during the period. UBS Group AG lifted its position in shares of abrdn Physical Platinum Shares ETF by 4.0% during the 4th quarter. UBS Group AG now owns 179,447 shares of the company’s stock valued at $33,454,000 after buying an additional 6,863 shares in the last quarter. Money Design Co. Ltd. grew its stake in abrdn Physical Platinum Shares ETF by 47.7% in the 2nd quarter. Money Design Co. Ltd. now owns 91,600 shares of the company’s stock valued at $11,255,000 after acquiring an additional 29,579 shares during the period. DAVENPORT & Co LLC increased its holdings in abrdn Physical Platinum Shares ETF by 2,768.2% in the 2nd quarter. DAVENPORT & Co LLC now owns 86,046 shares of the company’s stock worth $10,572,000 after acquiring an additional 83,046 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in abrdn Physical Platinum Shares ETF by 15.2% during the third quarter. Raymond James Financial Inc. now owns 72,865 shares of the company’s stock worth $10,411,000 after acquiring an additional 9,587 shares during the period. Hedge funds and other institutional investors 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.