abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Stock Price Up 1.1% – Should You Buy?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s share price rose 1.1% on Wednesday . The stock traded as high as $14.58 and last traded at $14.29. 2,880,879 shares were traded during trading, a decline of 50% from the average daily volume of 5,725,593 shares. The stock had previously closed at $14.13.

abrdn Physical Platinum Shares ETF Price Performance

The company’s 50-day moving average is $16.95 and its 200-day moving average is $18.58.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

A number of hedge funds have recently modified their holdings of the stock. Holcombe Financial Inc. acquired a new position in abrdn Physical Platinum Shares ETF during the fourth quarter worth $1,690,000. Black Swift Group LLC boosted its stake in shares of abrdn Physical Platinum Shares ETF by 61.6% in the 3rd quarter. Black Swift Group LLC now owns 53,090 shares of the company’s stock valued at $7,585,000 after purchasing an additional 20,245 shares in the last quarter. Private Wealth Advisors LLC bought a new stake in shares of abrdn Physical Platinum Shares ETF in the 3rd quarter worth about $1,432,000. Fortis Capital Advisors LLC acquired a new stake in shares of abrdn Physical Platinum Shares ETF during the 4th quarter worth about $846,000. Finally, Global View Capital Management LLC acquired a new stake in shares of abrdn Physical Platinum Shares ETF during the 4th quarter worth about $1,029,000. 20.03% of the stock is owned by institutional investors and hedge funds.

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.