Short Interest in abrdn Physical Precious Metals Basket Shares ETF (NYSEARCA:GLTR) Drops By 42.7%

abrdn Physical Precious Metals Basket Shares ETF (NYSEARCA:GLTR) was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 16,366 shares, a decline of 42.7% from the April 15th total of 28,563 shares. Based on an average daily volume of 53,806 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the company’s stock are short sold.

abrdn Physical Precious Metals Basket Shares ETF Stock Performance

abrdn Physical Precious Metals Basket Shares ETF stock opened at $216.99 on Tuesday. abrdn Physical Precious Metals Basket Shares ETF has a fifty-two week low of $129.91 and a fifty-two week high of $295.44. The firm’s 50-day simple moving average is $222.22 and its 200 day simple moving average is $216.41.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in abrdn Physical Precious Metals Basket Shares ETF by 6.6% in the fourth quarter. Morgan Stanley now owns 553,776 shares of the company’s stock valued at $113,856,000 after acquiring an additional 34,142 shares during the last quarter. Wells Fargo & Company MN boosted its stake in abrdn Physical Precious Metals Basket Shares ETF by 12.0% in the fourth quarter. Wells Fargo & Company MN now owns 471,068 shares of the company’s stock valued at $96,852,000 after acquiring an additional 50,391 shares during the last quarter. LPL Financial LLC boosted its stake in abrdn Physical Precious Metals Basket Shares ETF by 39.6% in the fourth quarter. LPL Financial LLC now owns 380,713 shares of the company’s stock valued at $78,275,000 after acquiring an additional 107,963 shares during the last quarter. Bank of America Corp DE boosted its stake in abrdn Physical Precious Metals Basket Shares ETF by 8.2% in the third quarter. Bank of America Corp DE now owns 379,067 shares of the company’s stock valued at $62,717,000 after acquiring an additional 28,819 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in abrdn Physical Precious Metals Basket Shares ETF by 10.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 232,088 shares of the company’s stock valued at $47,717,000 after acquiring an additional 21,283 shares during the last quarter.

abrdn Physical Precious Metals Basket Shares ETF Company Profile

The abrdn Physical Precious Metals Basket Shares ETF (GLTR) is an exchange-traded fund that mostly invests in broad market commodities. The fund tracks the spot prices of a basket of gold, silver, platinum and palladium, less trust expenses. GLTR was launched on Oct 22, 2010 and is managed by Abrdn.