abrdn Physical Palladium Shares ETF (NYSEARCA:PALL) Trading Down 6.3% – Here’s Why

abrdn Physical Palladium Shares ETF (NYSEARCA:PALL)’s stock price fell 6.3% during trading on Tuesday . The stock traded as low as $172.00 and last traded at $172.26. 438,442 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 648,005 shares. The stock had previously closed at $183.77.

abrdn Physical Palladium Shares ETF Trading Down 1.9%

The stock’s 50-day simple moving average is $153.01 and its 200-day simple moving average is $128.85.

Hedge Funds Weigh In On abrdn Physical Palladium Shares ETF

Several large investors have recently modified their holdings of PALL. Bank of America Corp DE boosted its position in shares of abrdn Physical Palladium Shares ETF by 389.6% during the 2nd quarter. Bank of America Corp DE now owns 125,787 shares of the exchange traded fund’s stock valued at $12,655,000 after purchasing an additional 100,097 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of abrdn Physical Palladium Shares ETF by 202.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 116,622 shares of the exchange traded fund’s stock worth $13,315,000 after buying an additional 78,005 shares during the last quarter. Manatuck Hill Partners LLC bought a new position in abrdn Physical Palladium Shares ETF during the second quarter valued at about $6,540,000. Gradient Investments LLC lifted its position in shares of abrdn Physical Palladium Shares ETF by 92.4% during the 3rd quarter. Gradient Investments LLC now owns 79,132 shares of the exchange traded fund’s stock valued at $9,034,000 after buying an additional 38,003 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in abrdn Physical Palladium Shares ETF by 1,424.0% in the 2nd quarter. Jane Street Group LLC now owns 37,002 shares of the exchange traded fund’s stock worth $3,723,000 after buying an additional 34,574 shares during the period. Institutional investors own 23.28% of the company’s stock.

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.