As of September 30, 2024, the abrdn Palladium ETF Trust reported total assets of $273.0 million, marking an increase from $219.4 million at the end of 2023. The investment in palladium was valued at $270.7 million, up from $219.4 million at December 31, 2023. Net assets also rose to $272.9 million, compared to $219.3 million at the end of the previous fiscal year.
For the three months ending September 30, 2024, the Trust recorded a change in unrealized gains on its palladium investments amounting to $26.9 million, significantly higher than the $9.5 million reported for the same period in 2023. The net increase in net assets from operations for this quarter was $9.9 million, an increase from $6.1 million in the prior year.
However, for the nine months ended September 30, 2024, the Trust experienced a net decrease in net assets of $22.4 million, a notable improvement compared to a decrease of $84.9 million for the same period in 2023. The number of shares outstanding increased from 2.1 million at December 31, 2023, to 2.99 million by September 30, 2024. Despite this increase in shares, the net asset value (NAV) per share decreased from $104.43 at the end of 2023 to $91.33 at the end of September 2024.
The Trust's NAV also saw a decline from $284.0 million at June 30, 2024, to $272.9 million at September 30, 2024, reflecting a 3.91% decrease over the quarter. Additionally, the Sponsor's Fee for the three months ended September 30, 2024, was $416,100, an increase from $356,407 for the same period in 2023.
About abrdn Palladium ETF Trust
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