abrdn Physical Palladium Shares ETF (NYSEARCA:PALL) Shares Gap Up – Should You Buy?

Shares of abrdn Physical Palladium Shares ETF (NYSEARCA:PALL) gapped up prior to trading on Wednesday . The stock had previously closed at $174.99, but opened at $183.37. abrdn Physical Palladium Shares ETF shares last traded at $183.7990, with a volume of 327,000 shares trading hands.

abrdn Physical Palladium Shares ETF Stock Down 15.7%

The company has a 50 day moving average price of $153.01 and a two-hundred day moving average price of $128.85.

Hedge Funds Weigh In On abrdn Physical Palladium Shares ETF

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE grew its holdings in shares of abrdn Physical Palladium Shares ETF by 389.6% in the second quarter. Bank of America Corp DE now owns 125,787 shares of the exchange traded fund’s stock worth $12,655,000 after acquiring an additional 100,097 shares during the period. BNP Paribas Financial Markets lifted its position in abrdn Physical Palladium Shares ETF by 202.0% during the third quarter. BNP Paribas Financial Markets now owns 116,622 shares of the exchange traded fund’s stock valued at $13,315,000 after purchasing an additional 78,005 shares in the last quarter. Manatuck Hill Partners LLC bought a new stake in abrdn Physical Palladium Shares ETF during the second quarter valued at about $6,540,000. Gradient Investments LLC increased its position in abrdn Physical Palladium Shares ETF by 92.4% in the third quarter. Gradient Investments LLC now owns 79,132 shares of the exchange traded fund’s stock worth $9,034,000 after buying an additional 38,003 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of abrdn Physical Palladium Shares ETF by 1,424.0% in the second quarter. Jane Street Group LLC now owns 37,002 shares of the exchange traded fund’s stock worth $3,723,000 after buying an additional 34,574 shares during the period. 23.28% of the stock is owned by institutional investors.

abrdn Physical Palladium Shares ETF Company Profile

ETFS Physical Palladium Shares (the Fund) is designed to offer investors a simple, cost-efficient and secure way to access the precious metals market. The Fund focuses on providing investors with a return equivalent to movements in the palladium spot price less fees. The Fund is issued by ETFS Palladium Trust (the Trust). The Fund’s sponsor is ETF Securities USA LLC, which is a wholly owned subsidiary of ETF Securities Ltd.