Electrum Group LLC Invests $28.57 Million in Global X Silver Miners ETF $SIL

Electrum Group LLC purchased a new position in Global X Silver Miners ETF (NYSEARCA:SIL) during the 4th quarter, HoldingsChannel reports. The fund purchased 342,009 shares of the company’s stock, valued at approximately $28,565,000. Global X Silver Miners ETF makes up approximately 2.5% of Electrum Group LLC’s investment portfolio, making the stock its 5th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of SIL. Bank of Nova Scotia purchased a new position in shares of Global X Silver Miners ETF in the third quarter worth about $85,405,000. Mainstay Capital Management LLC ADV lifted its stake in shares of Global X Silver Miners ETF by 1,440.5% in the fourth quarter. Mainstay Capital Management LLC ADV now owns 309,140 shares of the company’s stock worth $25,819,000 after buying an additional 289,072 shares in the last quarter. BFI Infinity Ltd. lifted its stake in shares of Global X Silver Miners ETF by 210.6% in the fourth quarter. BFI Infinity Ltd. now owns 119,423 shares of the company’s stock worth $9,980,000 after buying an additional 227,381 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Global X Silver Miners ETF by 620.3% in the first quarter. Royal Bank of Canada now owns 210,084 shares of the company’s stock worth $8,288,000 after buying an additional 180,917 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Global X Silver Miners ETF by 255.5% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 234,515 shares of the company’s stock worth $16,798,000 after buying an additional 168,555 shares in the last quarter.

Global X Silver Miners ETF Trading Down 2.2%

NYSEARCA:SIL opened at $77.79 on Wednesday. The company’s 50-day moving average price is $92.39 and its 200-day moving average price is $92.42. The company has a market cap of $4.65 billion, a P/E ratio of 32.07 and a beta of 0.79. Global X Silver Miners ETF has a twelve month low of $46.18 and a twelve month high of $119.24.

Global X Silver Miners ETF Profile

The Global X Silver Miners ETF (SIL) is an exchange-traded fund that mostly invests in materials equity. The fund tracks a market-cap-weighted index of companies actively engaged in the silver mining industry. SIL was launched on Apr 19, 2010 and is managed by Global X.