abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Stock Price Down 0.4% – Time to Sell?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s share price were down 0.4% on Wednesday. The company traded as low as $15.35 and last traded at $15.41. Approximately 2,304,226 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 4,598,315 shares. The stock had previously closed at $15.47.

abrdn Physical Platinum Shares ETF Trading Down 0.4%

The stock has a fifty day simple moving average of $15.92 and a 200-day simple moving average of $16.64.

Institutional Investors Weigh In On abrdn Physical Platinum Shares ETF

Hedge funds and other institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC boosted its holdings in abrdn Physical Platinum Shares ETF by 840.2% in the second quarter. Integrated Wealth Concepts LLC now owns 17,102 shares of the company’s stock valued at $242,000 after purchasing an additional 15,283 shares in the last quarter. Corient Private Wealth LP raised its holdings in abrdn Physical Platinum Shares ETF by 295.4% during the second quarter. Corient Private Wealth LP now owns 11,530 shares of the company’s stock worth $163,000 after purchasing an additional 8,614 shares in the last quarter. HB Wealth Management LLC raised its holdings in abrdn Physical Platinum Shares ETF by 1,075.6% during the second quarter. HB Wealth Management LLC now owns 15,400 shares of the company’s stock worth $218,000 after purchasing an additional 14,090 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of abrdn Physical Platinum Shares ETF by 900.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 10,550 shares of the company’s stock worth $151,000 after buying an additional 9,495 shares during the last quarter. Finally, WIT Partners Advisory Pte. Ltd. lifted its position in shares of abrdn Physical Platinum Shares ETF by 2,314.0% during the 2nd 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. Institutional investors and hedge funds own 20.03% of the company’s stock.

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.