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

Shares of abrdn Physical Palladium Shares ETF (NYSEARCA:PALL) gapped down prior to trading on Monday . The stock had previously closed at $25.79, but opened at $24.82. abrdn Physical Palladium Shares ETF shares last traded at $24.80, with a volume of 144,612 shares trading hands.

abrdn Physical Palladium Shares ETF Stock Performance

The company has a 50-day simple moving average of $23.43 and a two-hundred day simple moving average of $25.96.

Hedge Funds Weigh In On abrdn Physical Palladium Shares ETF

A number of institutional investors have recently added to or reduced their stakes in the company. Gradient Investments LLC raised its holdings in shares of abrdn Physical Palladium Shares ETF by 378.3% in the 2nd quarter. Gradient Investments LLC now owns 575,505 shares of the exchange traded fund’s stock valued at $12,707,000 after purchasing an additional 455,175 shares during the period. Bank of America Corp DE grew its holdings in abrdn Physical Palladium Shares ETF by 389.6% during the second quarter. Bank of America Corp DE now owns 125,787 shares of the exchange traded fund’s stock worth $12,655,000 after purchasing an additional 100,097 shares during the period. BNP Paribas Financial Markets grew its holdings in abrdn Physical Palladium Shares ETF by 202.0% during the third quarter. BNP Paribas Financial Markets now owns 116,622 shares of the exchange traded fund’s stock worth $13,315,000 after purchasing an additional 78,005 shares during the period. Manatuck Hill Partners LLC acquired a new position in abrdn Physical Palladium Shares ETF during the second quarter worth approximately $6,540,000. Finally, LPL Financial LLC raised its stake in abrdn Physical Palladium Shares ETF by 124.3% in the fourth quarter. LPL Financial LLC now owns 77,629 shares of the exchange traded fund’s stock valued at $11,286,000 after buying an additional 43,021 shares during the period. 23.28% of the stock is currently owned by institutional investors and hedge funds.

abrdn Physical Palladium Shares ETF Company Profile

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.