abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sets New 12-Month High – Here’s Why

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) reached a new 52-week high on Tuesday . The stock traded as high as $261.62 and last traded at $246.75, with a volume of 2967584 shares changing hands. The stock had previously closed at $252.25.

abrdn Physical Platinum Shares ETF Stock Performance

The stock’s 50 day simple moving average is $183.26 and its 200-day simple moving average is $151.05.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC increased its position 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 acquiring an additional 83,046 shares during the period. CENTRAL TRUST Co grew its stake in abrdn Physical Platinum Shares ETF by 24.3% during the 2nd quarter. CENTRAL TRUST Co now owns 318,113 shares of the company’s stock worth $39,087,000 after purchasing an additional 62,198 shares in the last quarter. Intrepid Family Office LLC purchased a new stake in abrdn Physical Platinum Shares ETF during the 2nd quarter worth about $6,144,000. Arkadios Wealth Advisors purchased a new stake in abrdn Physical Platinum Shares ETF during the 2nd quarter worth about $5,257,000. Finally, Raymond James Financial Inc. raised its position in abrdn Physical Platinum Shares ETF by 188.5% in the 2nd quarter. Raymond James Financial Inc. now owns 63,278 shares of the company’s stock valued at $7,775,000 after purchasing an additional 41,348 shares in the last quarter. Hedge funds and other 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.