iShares Silver Trust (NYSEARCA:SLV) Stock Price Up 7.7% – Should You Buy?

Shares of iShares Silver Trust (NYSEARCA:SLV) were up 7.7% during mid-day trading on Friday . The stock traded as high as $75.85 and last traded at $76.4880. Approximately 69,693,128 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 139,640,828 shares. The stock had previously closed at $71.01.

iShares Silver Trust Stock Performance

The company has a 50 day moving average of $74.30 and a 200-day moving average of $53.75. The stock has a market cap of $42.18 billion, a price-to-earnings ratio of -8.51 and a beta of 0.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sarver Vrooman Wealth Advisors acquired a new stake in iShares Silver Trust during the 4th quarter worth approximately $30,000. Intesa Sanpaolo Wealth Management acquired a new position in shares of iShares Silver Trust in the fourth quarter worth $32,000. Sfam LLC purchased a new stake in shares of iShares Silver Trust during the fourth quarter worth $33,000. Rialto Wealth Management LLC acquired a new stake in shares of iShares Silver Trust in the fourth quarter valued at $33,000. Finally, Redwood Park Advisors LLC raised its stake in shares of iShares Silver Trust by 106.4% in the fourth quarter. Redwood Park Advisors LLC now owns 516 shares of the exchange traded fund’s stock valued at $33,000 after acquiring an additional 266 shares in the last quarter.

About iShares Silver Trust

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.