Short Interest in abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Drops By 24.5%

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 606,085 shares, a decrease of 24.5% from the February 12th total of 802,957 shares. Approximately 3.8% of the company’s stock are short sold. Based on an average daily trading volume, of 471,734 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 471,734 shares, the days-to-cover ratio is presently 1.3 days. Approximately 3.8% of the company’s stock are short sold.

abrdn Physical Platinum Shares ETF Stock Up 4.4%

Shares of PPLT stock traded up $8.12 during trading hours on Monday, hitting $191.95. 364,689 shares of the company were exchanged, compared to its average volume of 971,479. abrdn Physical Platinum Shares ETF has a 52 week low of $82.79 and a 52 week high of $261.62. The business has a 50 day moving average of $205.25 and a two-hundred day moving average of $169.40.

Institutional Trading of abrdn Physical Platinum Shares ETF

Several hedge funds and other institutional investors have recently modified their holdings of PPLT. Goldman Sachs Group Inc. grew its holdings in shares of abrdn Physical Platinum Shares ETF by 5,730.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 346,804 shares of the company’s stock worth $64,655,000 after buying an additional 340,856 shares in the last quarter. Corient Private Wealth LLC lifted its stake in abrdn Physical Platinum Shares ETF by 12,472.1% in the 4th quarter. Corient Private Wealth LLC now owns 187,073 shares of the company’s stock valued at $34,876,000 after acquiring an additional 185,585 shares in the last quarter. BNP Paribas Financial Markets boosted its position in abrdn Physical Platinum Shares ETF by 135.3% during the 4th quarter. BNP Paribas Financial Markets now owns 174,974 shares of the company’s stock worth $32,620,000 after acquiring an additional 100,602 shares during the last quarter. Morgan Stanley grew its stake in shares of abrdn Physical Platinum Shares ETF by 29.3% during the 4th quarter. Morgan Stanley now owns 326,667 shares of the company’s stock worth $60,901,000 after acquiring an additional 74,090 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of abrdn Physical Platinum Shares ETF by 247.0% in the fourth quarter. JPMorgan Chase & Co. now owns 84,669 shares of the company’s stock valued at $15,785,000 after purchasing an additional 60,267 shares during the last quarter. Institutional investors and hedge funds 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.