abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sees Significant Growth in Short Interest

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 1,114,684 shares, an increase of 141.5% from the December 15th total of 461,527 shares. Based on an average daily volume of 1,988,545 shares, the days-to-cover ratio is currently 0.6 days. Currently, 7.3% of the company’s stock are short sold. Currently, 7.3% of the company’s stock are short sold. Based on an average daily volume of 1,988,545 shares, the days-to-cover ratio is currently 0.6 days.

abrdn Physical Platinum Shares ETF Price Performance

NYSEARCA:PPLT traded down $0.09 during midday trading on Thursday, hitting $218.67. 1,071,056 shares of the company were exchanged, compared to its average volume of 1,143,340. abrdn Physical Platinum Shares ETF has a fifty-two week low of $82.79 and a fifty-two week high of $225.71. The company has a fifty day simple moving average of $171.11 and a 200 day simple moving average of $145.59.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Team Financial Group LLC acquired a new stake in shares of abrdn Physical Platinum Shares ETF in the fourth quarter valued at approximately $33,000. Raleigh Capital Management Inc. acquired a new stake in abrdn Physical Platinum Shares ETF during the 3rd quarter worth $34,000. Ball & Co Wealth Management Inc. acquired a new stake in abrdn Physical Platinum Shares ETF during the 3rd quarter worth $34,000. West Oak Capital LLC purchased a new position in abrdn Physical Platinum Shares ETF during the 2nd quarter worth $33,000. Finally, Assetmark Inc. grew its position in abrdn Physical Platinum Shares ETF by 407.3% during the 3rd quarter. Assetmark Inc. now owns 279 shares of the company’s stock worth $40,000 after purchasing an additional 224 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.