abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Hits New 12-Month Low – Here’s Why

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s stock price hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $12.86 and last traded at $12.8650, with a volume of 1,280,686 shares. The stock had previously closed at $13.07.

abrdn Physical Platinum Shares ETF Stock Performance

The stock has a 50-day moving average price of $15.47 and a 200 day moving average price of $17.17.

Institutional Trading of abrdn Physical Platinum Shares ETF

Hedge funds and other institutional investors have recently modified their holdings of the business. Rakuten Investment Management Inc. purchased a new position in abrdn Physical Platinum Shares ETF in the 3rd quarter valued at approximately $31,690,000. WIT Partners Advisory Pte. Ltd. grew its holdings in shares of abrdn Physical Platinum Shares ETF by 2,314.0% during the second quarter. WIT Partners Advisory Pte. Ltd. now owns 554,491 shares of the company’s stock worth $7,835,000 after buying an additional 531,521 shares during the last quarter. Proficio Capital Partners LLC raised its position in abrdn Physical Platinum Shares ETF by 286.0% during the 2nd quarter. Proficio Capital Partners LLC now owns 235,390 shares of the company’s stock worth $3,326,000 after buying an additional 174,411 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in abrdn Physical Platinum Shares ETF in the third quarter valued at $1,541,000. Finally, Confluence Investment Management LLC boosted its stake in shares of abrdn Physical Platinum Shares ETF by 1,284.3% during the 2nd quarter. Confluence Investment Management LLC now owns 75,305 shares of the company’s stock worth $1,064,000 after acquiring an additional 69,865 shares in the last quarter. 20.03% of the stock is 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.