iShares MSCI Global Silver and Metals Miners ETF (BATS:SLVP) Trading Up 118.2% – Here’s Why

Shares of iShares MSCI Global Silver and Metals Miners ETF (BATS:SLVP) rose 118.2% on Thursday . The stock traded as high as $15.71 and last traded at $33.6540. Approximately 85,956 shares were traded during trading, a decline of 46% from the average daily volume of 158,912 shares. The stock had previously closed at $15.42.

iShares MSCI Global Silver and Metals Miners ETF Price Performance

The stock’s fifty day simple moving average is $28.35 and its two-hundred day simple moving average is $23.04. The company has a market capitalization of $600.18 million, a price-to-earnings ratio of 26.00 and a beta of 0.76.

Hedge Funds Weigh In On iShares MSCI Global Silver and Metals Miners ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Accordant Advisory Group Inc acquired a new position in iShares MSCI Global Silver and Metals Miners ETF during the 2nd quarter worth $230,000. JPMorgan Chase & Co. increased its holdings in shares of iShares MSCI Global Silver and Metals Miners ETF by 69.8% during the third quarter. JPMorgan Chase & Co. now owns 1,022 shares of the company’s stock valued at $28,000 after purchasing an additional 420 shares during the period. Harbour Trust & Investment Management Co bought a new stake in shares of iShares MSCI Global Silver and Metals Miners ETF during the third quarter valued at about $251,000. Ameriprise Financial Inc. lifted its holdings in iShares MSCI Global Silver and Metals Miners ETF by 3.7% in the second quarter. Ameriprise Financial Inc. now owns 218,306 shares of the company’s stock worth $3,888,000 after purchasing an additional 7,812 shares during the period. Finally, EverSource Wealth Advisors LLC bought a new position in iShares MSCI Global Silver and Metals Miners ETF in the 2nd quarter valued at about $114,000.

About iShares MSCI Global Silver and Metals Miners ETF

The iShares MSCI Global Silver and Metals Miners ETF (SLVP) is an exchange-traded fund that is based on the MSCI ACWI Select Silver Miners IMI index, a market-cap-weighted index of global companies that earn the majority of their revenues from silver mining. SLVP was launched on Jan 31, 2012 and is managed by BlackRock.