abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Hits New 12-Month High – What’s Next?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $145.97 and last traded at $145.88, with a volume of 206452 shares traded. The stock had previously closed at $143.83.

abrdn Physical Platinum Shares ETF Trading Up 1.1%

The company’s 50-day simple moving average is $125.68 and its 200 day simple moving average is $109.67.

Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF

Several hedge funds have recently bought and sold shares of PPLT. Cambridge Investment Research Advisors Inc. grew its stake in shares of abrdn Physical Platinum Shares ETF by 4.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,465 shares of the company’s stock valued at $317,000 after purchasing an additional 145 shares during the period. Allworth Financial LP grew its stake 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 purchasing an additional 172 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of abrdn Physical Platinum Shares ETF by 43.1% during the second quarter. Geneos Wealth Management Inc. now owns 618 shares of the company’s stock worth $76,000 after buying an additional 186 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of abrdn Physical Platinum Shares ETF by 2.1% in the first quarter. Janney Montgomery Scott LLC now owns 11,534 shares of the company’s stock valued at $1,054,000 after acquiring an additional 238 shares during the last quarter. Finally, MAI Capital Management raised its stake in shares of abrdn Physical Platinum Shares ETF by 252.9% in the second quarter. MAI Capital Management now owns 367 shares of the company’s stock valued at $45,000 after acquiring an additional 263 shares during the last quarter. 20.03% of the stock is owned by institutional investors and hedge funds.

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.