abrdn Physical Palladium Shares ETF (NYSEARCA:PALL) Short Interest Up 315.9% in May

abrdn Physical Palladium Shares ETF (NYSEARCA:PALL) was the recipient of a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 2,509,727 shares, an increase of 315.9% from the May 14th total of 603,407 shares. Currently, 8.3% of the shares of the company are short sold. Based on an average trading volume of 759,384 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Main Street Group LTD purchased a new stake in shares of abrdn Physical Palladium Shares ETF during the 1st quarter valued at approximately $27,000. Noble Wealth Management PBC purchased a new stake in shares of abrdn Physical Palladium Shares ETF during the 4th quarter valued at approximately $29,000. PNC Financial Services Group Inc. lifted its stake in shares of abrdn Physical Palladium Shares ETF by 2,437.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 203 shares of the exchange traded fund’s stock valued at $30,000 after buying an additional 195 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of abrdn Physical Palladium Shares ETF during the 4th quarter valued at approximately $31,000. Finally, Quaker Wealth Management LLC purchased a new stake in shares of abrdn Physical Palladium Shares ETF during the 4th quarter valued at approximately $35,000. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

abrdn Physical Palladium Shares ETF Stock Up 0.1%

PALL traded up $0.02 during midday trading on Friday, reaching $23.23. The company had a trading volume of 1,030,587 shares, compared to its average volume of 1,795,609. abrdn Physical Palladium Shares ETF has a 12-month low of $18.80 and a 12-month high of $39.48. The business has a 50-day moving average price of $26.15 and a two-hundred day moving average price of $28.73.

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.