abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sees Large Growth in Short Interest

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,114,684 shares, an increase of 141.5% from the December 15th total of 461,527 shares. Currently, 7.3% of the company’s stock are short sold. Based on an average daily volume of 1,988,545 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 1,988,545 shares, the days-to-cover ratio is presently 0.6 days. Currently, 7.3% of the company’s stock are short sold.

abrdn Physical Platinum Shares ETF Trading Down 0.2%

Shares of PPLT opened at $211.65 on Wednesday. The stock has a 50 day simple moving average of $167.99 and a 200 day simple moving average of $144.56. abrdn Physical Platinum Shares ETF has a 52-week low of $82.79 and a 52-week high of $225.71.

Institutional Investors Weigh In On abrdn Physical Platinum Shares ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Team Financial Group LLC bought a new stake in abrdn Physical Platinum Shares ETF in the 4th quarter valued at $33,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of abrdn Physical Platinum Shares ETF by 3.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,304 shares of the company’s stock valued at $989,000 after purchasing an additional 170 shares during the period. Sovereign Financial Group Inc. bought a new stake in shares of abrdn Physical Platinum Shares ETF in the fourth quarter valued at about $227,000. Noble Wealth Management PBC lifted its holdings in shares of abrdn Physical Platinum Shares ETF by 110.0% in the fourth quarter. Noble Wealth Management PBC now owns 840 shares of the company’s stock valued at $157,000 after purchasing an additional 440 shares in the last quarter. Finally, Keel Point LLC boosted its position in shares of abrdn Physical Platinum Shares ETF by 5.2% during the third quarter. Keel Point LLC now owns 17,295 shares of the company’s stock worth $2,471,000 after buying an additional 862 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.