abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Shares Gap Up – Time to Buy?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $16.46, but opened at $17.27. abrdn Physical Platinum Shares ETF shares last traded at $17.3240, with a volume of 523,317 shares traded.

abrdn Physical Platinum Shares ETF Trading Up 5.2%

The stock has a 50-day moving average price of $15.48 and a 200 day moving average price of $17.04.

Institutional Trading of abrdn Physical Platinum Shares ETF

Several hedge funds have recently bought and sold shares of the stock. WIT Partners Advisory Pte. Ltd. boosted its holdings in shares of abrdn Physical Platinum Shares ETF by 2,314.0% in the second quarter. WIT Partners Advisory Pte. Ltd. now owns 554,491 shares of the company’s stock valued at $7,835,000 after buying an additional 531,521 shares during the period. CENTRAL TRUST Co raised its holdings in shares of abrdn Physical Platinum Shares ETF by 12.5% during the first quarter. CENTRAL TRUST Co now owns 358,153 shares of the company’s stock worth $63,834,000 after acquiring an additional 39,841 shares during the period. Goldman Sachs Group Inc. lifted its position in abrdn Physical Platinum Shares ETF by 5,730.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 346,804 shares of the company’s stock valued at $64,655,000 after acquiring an additional 340,856 shares in the last quarter. Morgan Stanley lifted its position in abrdn Physical Platinum Shares ETF by 29.3% in the 4th quarter. Morgan Stanley now owns 326,667 shares of the company’s stock valued at $60,901,000 after acquiring an additional 74,090 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in abrdn Physical Platinum Shares ETF by 286.0% in the 2nd quarter. Proficio Capital Partners LLC now owns 235,390 shares of the company’s stock worth $3,326,000 after purchasing an additional 174,411 shares during the period. 20.03% of the stock is currently owned by institutional investors and hedge funds.

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.