abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Short Interest Update

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) was the recipient of a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 802,957 shares, a drop of 19.1% from the January 29th total of 992,281 shares. Currently, 5.0% of the company’s shares are sold short. Based on an average daily trading volume, of 753,728 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 753,728 shares, the days-to-cover ratio is presently 1.1 days. Currently, 5.0% of the company’s shares are sold short.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

Several hedge funds and other institutional investors have recently modified their holdings of PPLT. Abbington Investment Group bought a new stake in abrdn Physical Platinum Shares ETF during the 3rd quarter valued at approximately $3,253,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of abrdn Physical Platinum Shares ETF in the 3rd quarter valued at approximately $405,000. Bleakley Financial Group LLC lifted its stake in shares of abrdn Physical Platinum Shares ETF by 26.4% in the 3rd quarter. Bleakley Financial Group LLC now owns 27,528 shares of the company’s stock valued at $3,933,000 after purchasing an additional 5,754 shares during the period. Accordant Advisory Group Inc bought a new stake in shares of abrdn Physical Platinum Shares ETF during the third quarter valued at approximately $3,500,000. Finally, Darden Wealth Group Inc bought a new stake in shares of abrdn Physical Platinum Shares ETF during the third quarter valued at approximately $623,000. Hedge funds and other institutional investors own 20.03% of the company’s stock.

abrdn Physical Platinum Shares ETF Stock Performance

PPLT stock traded down $18.89 on Tuesday, reaching $190.89. The company’s stock had a trading volume of 822,074 shares, compared to its average volume of 1,106,322. The business has a fifty day simple moving average of $206.18 and a two-hundred day simple moving average of $164.88. abrdn Physical Platinum Shares ETF has a 12-month low of $82.79 and a 12-month high of $261.62.

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.