abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Stock Price Down 10.5% – Here’s Why

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) shares dropped 10.5% during trading on Tuesday . The company traded as low as $182.65 and last traded at $187.84. Approximately 610,203 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 1,100,141 shares. The stock had previously closed at $209.78.

abrdn Physical Platinum Shares ETF Price Performance

The business has a fifty day simple moving average of $206.52 and a 200-day simple moving average of $164.39.

Institutional Trading of abrdn Physical Platinum Shares ETF

A number of institutional investors and hedge funds have recently bought and sold shares of PPLT. HHM Wealth Advisors LLC acquired a new position in abrdn Physical Platinum Shares ETF during the 4th quarter worth approximately $25,000. Acumen Wealth Advisors LLC bought a new position in shares of abrdn Physical Platinum Shares ETF during the fourth quarter valued at about $25,000. Creative Financial Designs Inc. ADV boosted its stake in shares of abrdn Physical Platinum Shares ETF by 316.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 150 shares of the company’s stock worth $28,000 after buying an additional 114 shares during the last quarter. Team Financial Group LLC purchased a new stake in shares of abrdn Physical Platinum Shares ETF during the 4th quarter valued at $33,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in abrdn Physical Platinum Shares ETF in the third quarter valued at about $34,000. 20.03% of the stock is currently owned by institutional investors and hedge funds.

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.