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

Shares of abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $230.11 and last traded at $228.1660, with a volume of 472071 shares trading hands. The stock had previously closed at $224.07.

abrdn Physical Platinum Shares ETF Stock Up 1.2%

The firm has a 50 day moving average price of $175.37 and a 200 day moving average price of $147.75.

Institutional Investors Weigh In On abrdn Physical Platinum Shares ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in PPLT. Benjamin Edwards Inc. grew its stake in abrdn Physical Platinum Shares ETF by 2.5% in the 3rd quarter. Benjamin Edwards Inc. now owns 3,063 shares of the company’s stock valued at $438,000 after purchasing an additional 75 shares during the period. Compound Planning Inc. increased its holdings in abrdn Physical Platinum Shares ETF by 0.9% in the 3rd quarter. Compound Planning Inc. now owns 9,136 shares of the company’s stock worth $1,305,000 after acquiring an additional 83 shares during the last quarter. MAI Capital Management increased its holdings in abrdn Physical Platinum Shares ETF by 34.1% in the 3rd quarter. MAI Capital Management now owns 492 shares of the company’s stock worth $70,000 after acquiring an additional 125 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in 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 acquiring an additional 170 shares during the period. Finally, Allworth Financial LP lifted its holdings in abrdn Physical Platinum Shares ETF by 137.6% during the second quarter. Allworth Financial LP now owns 297 shares of the company’s stock valued at $36,000 after purchasing an additional 172 shares during the last quarter. Hedge funds and other institutional investors own 20.03% of the company’s stock.

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.