abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sets New 1-Year High – Still a Buy?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $230.11 and last traded at $228.1660, with a volume of 472071 shares traded. The stock had previously closed at $224.07.

abrdn Physical Platinum Shares ETF Stock Performance

The stock has a 50 day moving average price of $175.37 and a 200 day moving average price of $147.75.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

Hedge funds have recently modified their holdings of the business. Team Financial Group LLC bought a new stake in shares of abrdn Physical Platinum Shares ETF in the fourth quarter worth $33,000. Raleigh Capital Management Inc. acquired a new position in shares of abrdn Physical Platinum Shares ETF during the third quarter valued at about $34,000. Ball & Co Wealth Management Inc. acquired a new stake in abrdn Physical Platinum Shares ETF in the 3rd quarter valued at $34,000. West Oak Capital LLC bought a new stake in abrdn Physical Platinum Shares ETF during the 2nd quarter valued at $33,000. Finally, Assetmark Inc. raised its holdings in abrdn Physical Platinum Shares ETF by 407.3% during the third quarter. Assetmark Inc. now owns 279 shares of the company’s stock worth $40,000 after buying an additional 224 shares during the last quarter. Institutional investors and hedge funds 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.