abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Reaches New 52-Week Low – Time to Sell?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s share price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $13.70 and last traded at $13.7860, with a volume of 244,131 shares. The stock had previously closed at $13.83.

abrdn Physical Platinum Shares ETF Trading Up 0.2%

The firm’s fifty day simple moving average is $15.80 and its 200 day simple moving average is $17.39.

Institutional Investors Weigh In On abrdn Physical Platinum Shares ETF

Several institutional investors have recently modified their holdings of PPLT. Kestra Private Wealth Services LLC grew its stake in abrdn Physical Platinum Shares ETF by 5.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 1,852 shares of the company’s stock valued at $330,000 after acquiring an additional 100 shares during the last quarter. Waverly Advisors LLC increased its holdings in abrdn Physical Platinum Shares ETF by 7.8% during the 1st quarter. Waverly Advisors LLC now owns 1,488 shares of the company’s stock valued at $265,000 after acquiring an additional 108 shares in the last quarter. Compound Planning Inc. increased its holdings in abrdn Physical Platinum Shares ETF by 2.6% during the 1st quarter. Compound Planning Inc. now owns 8,369 shares of the company’s stock valued at $1,492,000 after acquiring an additional 210 shares in the last quarter. Assetmark Inc. increased its holdings in abrdn Physical Platinum Shares ETF by 522.0% during the 1st quarter. Assetmark Inc. now owns 255 shares of the company’s stock valued at $45,000 after acquiring an additional 214 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in abrdn Physical Platinum Shares ETF by 570.0% during the first quarter. Parallel Advisors LLC now owns 335 shares of the company’s stock worth $60,000 after acquiring an additional 285 shares during the last quarter. 20.03% of the stock is owned by hedge funds and other institutional investors.

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.