abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Hits New 12-Month High – What’s Next?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $174.20 and last traded at $172.33, with a volume of 891027 shares. The stock had previously closed at $167.77.

abrdn Physical Platinum Shares ETF Trading Up 2.5%

The company’s 50 day moving average price is $148.64 and its 200 day moving average price is $133.65.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PPLT. DAVENPORT & Co LLC lifted its holdings in shares of abrdn Physical Platinum Shares ETF by 2,768.2% during the second quarter. DAVENPORT & Co LLC now owns 86,046 shares of the company’s stock worth $10,572,000 after purchasing an additional 83,046 shares during the period. CENTRAL TRUST Co increased its holdings in abrdn Physical Platinum Shares ETF by 24.3% in the 2nd quarter. CENTRAL TRUST Co now owns 318,113 shares of the company’s stock worth $39,087,000 after buying an additional 62,198 shares during the period. Intrepid Family Office LLC purchased a new position in abrdn Physical Platinum Shares ETF during the 2nd quarter worth approximately $6,144,000. Arkadios Wealth Advisors acquired a new stake in abrdn Physical Platinum Shares ETF during the 2nd quarter valued at approximately $5,257,000. Finally, Raymond James Financial Inc. lifted its stake in abrdn Physical Platinum Shares ETF by 188.5% during the 2nd quarter. Raymond James Financial Inc. now owns 63,278 shares of the company’s stock valued at $7,775,000 after acquiring an additional 41,348 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.