abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Trading Down 10.5% – Here’s Why

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) traded down 10.5% during mid-day trading on Tuesday . The stock traded as low as $182.65 and last traded at $187.84. 610,203 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 1,100,141 shares. The stock had previously closed at $209.78.

abrdn Physical Platinum Shares ETF Trading Up 0.1%

The firm has a 50-day simple moving average of $206.00 and a 200-day simple moving average of $165.09.

Institutional Trading of abrdn Physical Platinum Shares ETF

Several institutional investors have recently added to or reduced their stakes in PPLT. Goldman Sachs Group Inc. lifted its stake in shares of 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 during the last quarter. Corient Private Wealth LLC increased its holdings in abrdn Physical Platinum Shares ETF by 12,472.1% during the 4th quarter. Corient Private Wealth LLC now owns 187,073 shares of the company’s stock valued at $34,876,000 after purchasing an additional 185,585 shares during the period. BNP Paribas Financial Markets lifted its stake in abrdn Physical Platinum Shares ETF by 135.3% in the fourth quarter. BNP Paribas Financial Markets now owns 174,974 shares of the company’s stock worth $32,620,000 after acquiring an additional 100,602 shares during the period. Morgan Stanley increased its position in shares of abrdn Physical Platinum Shares ETF by 29.3% during the fourth quarter. Morgan Stanley now owns 326,667 shares of the company’s stock valued at $60,901,000 after buying an additional 74,090 shares during the period. Finally, CENTRAL TRUST Co increased its holdings in shares of abrdn Physical Platinum Shares ETF by 24.3% during the second quarter. CENTRAL TRUST Co now owns 318,113 shares of the company’s stock valued at $39,087,000 after acquiring an additional 62,198 shares in the last quarter. 20.03% of the stock is currently owned by hedge funds and other institutional investors.

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.