abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) Short Interest Update

abrdn Physical Platinum Shares ETF (NYSEARCA:PPLT) saw a significant increase in short interest during the month of May. As of May 29th, there was short interest totaling 12,026,313 shares, an increase of 1,036.7% from the May 14th total of 1,058,016 shares. Based on an average daily trading volume, of 1,428,970 shares, the days-to-cover ratio is presently 8.4 days. Approximately 8.6% of the company’s stock are short sold.

abrdn Physical Platinum Shares ETF Trading Down 1.8%

abrdn Physical Platinum Shares ETF stock traded down $0.29 during midday trading on Tuesday, reaching $15.63. The company’s stock had a trading volume of 2,688,446 shares, compared to its average volume of 6,092,309. The stock’s 50-day simple moving average is $17.99 and its 200-day simple moving average is $18.52. abrdn Physical Platinum Shares ETF has a 52-week low of $11.04 and a 52-week high of $26.16.

Institutional Investors 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 the business. CENTRAL TRUST Co raised its stake in abrdn Physical Platinum Shares ETF by 12.5% in the first quarter. CENTRAL TRUST Co now owns 358,153 shares of the company’s stock valued at $63,834,000 after buying an additional 39,841 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in abrdn Physical Platinum Shares ETF by 5,730.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 346,804 shares of the company’s stock valued at $64,655,000 after buying an additional 340,856 shares during the last quarter. Morgan Stanley raised its stake in abrdn Physical Platinum Shares ETF by 29.3% in the fourth quarter. Morgan Stanley now owns 326,667 shares of the company’s stock valued at $60,901,000 after buying an additional 74,090 shares during the last quarter. Corient Private Wealth LLC raised its stake in abrdn Physical Platinum Shares ETF by 12,472.1% in the fourth quarter. Corient Private Wealth LLC now owns 187,073 shares of the company’s stock valued at $34,876,000 after buying an additional 185,585 shares during the last quarter. Finally, UBS Group AG raised its stake in abrdn Physical Platinum Shares ETF by 4.0% in the fourth quarter. UBS Group AG now owns 179,447 shares of the company’s stock valued at $33,454,000 after buying an additional 6,863 shares during the last quarter. 20.03% of the stock is currently owned by hedge funds and other institutional investors.

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.