abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Sets New 12-Month Low – Should You Sell?

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT)’s stock price reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $13.70 and last traded at $13.7860, with a volume of 244,131 shares trading hands. The stock had previously closed at $13.83.

abrdn Physical Platinum Shares ETF Stock Performance

The company has a 50 day moving average of $15.68 and a 200-day moving average of $17.28.

Institutional Trading of abrdn Physical Platinum Shares ETF

Several institutional investors and hedge funds have recently modified their holdings of PPLT. WIT Partners Advisory Pte. Ltd. boosted its position in shares of abrdn Physical Platinum Shares ETF by 2,314.0% during the 2nd quarter. WIT Partners Advisory Pte. Ltd. now owns 554,491 shares of the company’s stock valued at $7,835,000 after acquiring an additional 531,521 shares during the last quarter. Proficio Capital Partners LLC increased its position in shares of abrdn Physical Platinum Shares ETF by 286.0% in the second quarter. Proficio Capital Partners LLC now owns 235,390 shares of the company’s stock worth $3,326,000 after purchasing an additional 174,411 shares during the last quarter. Confluence Investment Management LLC increased its position in shares of abrdn Physical Platinum Shares ETF by 1,284.3% in the second quarter. Confluence Investment Management LLC now owns 75,305 shares of the company’s stock worth $1,064,000 after purchasing an additional 69,865 shares during the last quarter. Briaud Financial Planning Inc raised its stake in abrdn Physical Platinum Shares ETF by 896.1% in the second quarter. Briaud Financial Planning Inc now owns 66,240 shares of the company’s stock valued at $936,000 after purchasing an additional 59,590 shares in the last quarter. Finally, Pettinga Financial Advisors LLC raised its stake in abrdn Physical Platinum Shares ETF by 881.7% in the second quarter. Pettinga Financial Advisors LLC now owns 50,850 shares of the company’s stock valued at $719,000 after purchasing an additional 45,670 shares in the last quarter. Hedge funds and other institutional investors 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.