abrdn Physical Precious Metals Basket Shares ETF (NYSEARCA:GLTR) Hits New 1-Year High – Still a Buy?

abrdn Physical Precious Metals Basket Shares ETF (NYSEARCA:GLTR)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $222.79 and last traded at $222.4460, with a volume of 71077 shares changing hands. The stock had previously closed at $215.83.

abrdn Physical Precious Metals Basket Shares ETF Price Performance

The stock has a 50-day simple moving average of $188.85 and a 200-day simple moving average of $164.81.

Institutional Investors Weigh In On abrdn Physical Precious Metals Basket Shares ETF

A number of hedge funds have recently added to or reduced their stakes in GLTR. Ameritas Advisory Services LLC acquired a new stake in abrdn Physical Precious Metals Basket Shares ETF in the second quarter worth about $29,000. Measured Wealth Private Client Group LLC acquired a new position in shares of abrdn Physical Precious Metals Basket Shares ETF in the 3rd quarter worth approximately $32,000. IFP Advisors Inc increased its position in shares of abrdn Physical Precious Metals Basket Shares ETF by 100.0% during the second quarter. IFP Advisors Inc now owns 246 shares of the company’s stock worth $34,000 after buying an additional 123 shares during the period. GGM Financials LLC bought a new position in abrdn Physical Precious Metals Basket Shares ETF during the third quarter worth $38,000. Finally, Grey Fox Wealth Advisors LLC acquired a new position in abrdn Physical Precious Metals Basket Shares ETF in the third quarter valued at $39,000.

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.