abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Shares Gap Down – Should You Sell?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) shares gapped down before the market opened on Friday . The stock had previously closed at $239.13, but opened at $208.29. abrdn Physical Platinum Shares ETF shares last traded at $207.5840, with a volume of 530,549 shares traded.

abrdn Physical Platinum Shares ETF Stock Down 15.7%

The business has a 50 day moving average price of $189.35 and a 200-day moving average price of $153.08.

Institutional Trading of abrdn Physical Platinum Shares ETF

A number of hedge funds have recently made changes to their positions in PPLT. DAVENPORT & Co LLC boosted its stake in shares of abrdn Physical Platinum Shares ETF by 2,768.2% in the second quarter. DAVENPORT & Co LLC now owns 86,046 shares of the company’s stock valued at $10,572,000 after purchasing an additional 83,046 shares during the period. CENTRAL TRUST Co lifted its holdings in abrdn Physical Platinum Shares ETF by 24.3% in the 2nd quarter. CENTRAL TRUST Co now owns 318,113 shares of the company’s stock worth $39,087,000 after buying an additional 62,198 shares in the last quarter. Intrepid Family Office LLC acquired a new position in abrdn Physical Platinum Shares ETF in the 2nd quarter worth $6,144,000. Arkadios Wealth Advisors purchased a new position in abrdn Physical Platinum Shares ETF in the 2nd quarter valued at about $5,257,000. Finally, Raymond James Financial Inc. boosted 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 buying an additional 41,348 shares during 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.