Traders Buy High Volume of Call Options on abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) was the target of unusually large options trading on Wednesday. Stock traders bought 6,243 call options on the company. This represents an increase of 61% compared to the typical daily volume of 3,873 call options.

Institutional Trading of abrdn Physical Platinum Shares ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in PPLT. Geneos Wealth Management Inc. grew its holdings in abrdn Physical Platinum Shares ETF by 2,060.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 432 shares of the company’s stock worth $39,000 after acquiring an additional 412 shares during the last quarter. Betterment LLC bought a new position in shares of abrdn Physical Platinum Shares ETF in the second quarter worth about $211,000. Raymond James Financial Inc. raised its stake in shares of abrdn Physical Platinum Shares ETF by 188.5% in the second quarter. Raymond James Financial Inc. now owns 63,278 shares of the company’s stock worth $7,775,000 after acquiring an additional 41,348 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of abrdn Physical Platinum Shares ETF during the second quarter worth approximately $647,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of abrdn Physical Platinum Shares ETF during the second quarter worth approximately $367,000. 20.03% of the stock is currently owned by institutional investors and hedge funds.

abrdn Physical Platinum Shares ETF Stock Down 5.9%

PPLT stock opened at $16.13 on Friday. The business has a fifty day moving average price of $15.57 and a 200 day moving average price of $17.01. abrdn Physical Platinum Shares ETF has a fifty-two week low of $12.32 and a fifty-two week high of $26.16.

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.