Short Interest in abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Drops By 41.2%
by Sarita Garza · The Markets Dailyabrdn Physical Platinum Shares ETF (NYSEARCA:PPLT – Get Free Report) was the recipient of a large drop in short interest in December. As of December 15th, there was short interest totaling 461,527 shares, a drop of 41.2% from the November 30th total of 784,652 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average daily volume of 412,282 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 412,282 shares, the days-to-cover ratio is currently 1.1 days. Currently, 3.4% of the company’s shares are short sold.
Hedge Funds Weigh In On abrdn Physical Platinum Shares ETF
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPLT. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of abrdn Physical Platinum Shares ETF by 10.9% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,100 shares of the company’s stock valued at $750,000 after purchasing an additional 600 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in abrdn Physical Platinum Shares ETF by 7.8% in the second quarter. Janney Montgomery Scott LLC now owns 12,428 shares of the company’s stock worth $1,527,000 after purchasing an additional 894 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in abrdn Physical Platinum Shares ETF during the second quarter worth $271,000. Intrepid Family Office LLC bought a new position in abrdn Physical Platinum Shares ETF during the second quarter valued at about $6,144,000. Finally, Vanguard Capital Wealth Advisors lifted its position in shares of abrdn Physical Platinum Shares ETF by 739.7% in the second quarter. Vanguard Capital Wealth Advisors now owns 22,118 shares of the company’s stock worth $2,718,000 after buying an additional 19,484 shares during the last quarter. Institutional investors and hedge funds own 20.03% of the company’s stock.
abrdn Physical Platinum Shares ETF Price Performance
PPLT stock traded up $5.83 during mid-day trading on Tuesday, reaching $198.61. 1,397,190 shares of the stock traded hands, compared to its average volume of 398,475. abrdn Physical Platinum Shares ETF has a 52-week low of $82.79 and a 52-week high of $225.71. The stock’s fifty day moving average is $155.06 and its 200-day moving average is $138.04.
abrdn Physical Platinum Shares ETF Company Profile
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.