iShares Silver Trust (NYSEARCA:SLV) Shares Gap Down – Time to Sell?

iShares Silver Trust (NYSEARCA:SLVGet Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $65.21, but opened at $62.10. iShares Silver Trust shares last traded at $62.8310, with a volume of 14,640,638 shares traded.

Key Headlines Impacting iShares Silver Trust

Here are the key news stories impacting iShares Silver Trust this week:

iShares Silver Trust Price Performance

The company has a fifty day moving average of $77.36 and a 200-day moving average of $60.00. The firm has a market capitalization of $33.92 billion, a PE ratio of -8.51 and a beta of 0.38.

Hedge Funds Weigh In On iShares Silver Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sarver Vrooman Wealth Advisors acquired a new position in shares of iShares Silver Trust in the 4th quarter worth approximately $30,000. Nexus Investment Management ULC lifted its holdings in shares of iShares Silver Trust by 50.0% during the third quarter. Nexus Investment Management ULC now owns 750 shares of the exchange traded fund’s stock valued at $32,000 after acquiring an additional 250 shares during the period. Raleigh Capital Management Inc. acquired a new stake in shares of iShares Silver Trust in the 3rd quarter valued at $32,000. Intesa Sanpaolo Wealth Management bought a new stake in shares of iShares Silver Trust in the 4th quarter worth about $32,000. Finally, Rialto Wealth Management LLC acquired a new stake in shares of iShares Silver Trust during the 4th quarter worth about $33,000.

About iShares Silver Trust

(Get Free Report)

iShares Silver Trust (the Trust) owns silver transferred to the Trust in exchange for shares issued by the Trust. The Trust’s each share represents a fractional undivided beneficial interest in its net assets. The assets of the Trust consist of silver held by the Trust’s custodian on behalf of the Trust. The activities of the Trust are limited to issuing baskets of shares in exchange for the silver deposited with the custodian as consideration, selling silver as necessary to cover the sponsor’s fee, Trust expenses not assumed by the sponsor and other liabilities, and delivering silver in exchange for baskets of shares surrendered for redemption.

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