abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Shares Gap Down – What’s Next?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $220.45, but opened at $207.85. abrdn Physical Platinum Shares ETF shares last traded at $207.4070, with a volume of 493,455 shares trading hands.

abrdn Physical Platinum Shares ETF Trading Down 5.4%

The company’s 50 day moving average price is $161.44 and its 200 day moving average price is $141.51.

Institutional Trading of abrdn Physical Platinum Shares ETF

Several large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its stake in shares of abrdn Physical Platinum Shares ETF by 2,060.0% in the first quarter. Geneos Wealth Management Inc. now owns 432 shares of the company’s stock worth $39,000 after purchasing an additional 412 shares during the last quarter. Gradient Investments LLC increased its holdings in abrdn Physical Platinum Shares ETF by 6.5% in the 2nd quarter. Gradient Investments LLC now owns 44,523 shares of the company’s stock worth $5,471,000 after buying an additional 2,709 shares during the period. First International Bank & Trust purchased a new position in abrdn Physical Platinum Shares ETF during the 2nd quarter worth approximately $755,000. Vanguard Capital Wealth Advisors lifted its stake in abrdn Physical Platinum Shares ETF by 739.7% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 22,118 shares of the company’s stock valued at $2,718,000 after acquiring an additional 19,484 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in abrdn Physical Platinum Shares ETF during the 2nd quarter valued at approximately $71,000. 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.