abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sets New 1-Year High – Here’s What Happened

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

abrdn Physical Platinum Shares ETF Price Performance

The stock’s fifty day simple moving average is $178.88 and its two-hundred day simple moving average is $148.94.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

A number of hedge funds and other institutional investors have recently modified their holdings of PPLT. HHM Wealth Advisors LLC purchased a new position in abrdn Physical Platinum Shares ETF in the 4th quarter worth about $25,000. Team Financial Group LLC purchased a new position in shares of abrdn Physical Platinum Shares ETF in the fourth quarter worth approximately $33,000. Ball & Co Wealth Management Inc. acquired a new stake in shares of abrdn Physical Platinum Shares ETF during the third quarter valued at approximately $34,000. Raleigh Capital Management Inc. acquired a new stake in shares of abrdn Physical Platinum Shares ETF during the third quarter valued at approximately $34,000. Finally, Allworth Financial LP lifted its position in shares of abrdn Physical Platinum Shares ETF by 137.6% in the 2nd quarter. Allworth Financial LP now owns 297 shares of the company’s stock valued at $36,000 after acquiring an additional 172 shares in 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.