iShares Silver Trust (NYSEARCA:SLV) Sees Large Volume Increase – Here’s Why

iShares Silver Trust (NYSEARCA:SLV) shares saw unusually-high trading volume on Monday . Approximately 14,914,423 shares were traded during trading, a decline of 39% from the previous session’s volume of 24,559,885 shares.The stock last traded at $52.2220 and had previously closed at $51.21.

iShares Silver Trust Stock Performance

The stock has a market cap of $28.62 billion, a P/E ratio of -8.51 and a beta of 0.38. The firm’s fifty day simple moving average is $45.30 and its 200-day simple moving average is $38.14.

Hedge Funds Weigh In On iShares Silver Trust

Several hedge funds and other institutional investors have recently bought and sold shares of SLV. Innova Wealth Partners boosted its position in iShares Silver Trust by 11.4% during the third quarter. Innova Wealth Partners now owns 7,835 shares of the exchange traded fund’s stock valued at $332,000 after acquiring an additional 800 shares during the last quarter. Lantern Wealth Advisors LLC acquired a new position in shares of iShares Silver Trust in the 3rd quarter valued at about $316,000. Briaud Financial Planning Inc boosted its position in shares of iShares Silver Trust by 5,493.2% during the 3rd quarter. Briaud Financial Planning Inc now owns 621,064 shares of the exchange traded fund’s stock valued at $26,314,000 after purchasing an additional 609,960 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of iShares Silver Trust by 6.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 77,752 shares of the exchange traded fund’s stock valued at $3,294,000 after purchasing an additional 4,740 shares in the last quarter. Finally, Petix & Botte Co acquired a new stake in iShares Silver Trust during the third quarter worth approximately $221,000.

iShares Silver Trust Company Profile

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.