Sprott Physical Silver Trust (NYSEARCA:PSLV) Sets New 52-Week High – Should You Buy?

Sprott Physical Silver Trust (NYSEARCA:PSLV) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $21.90 and last traded at $21.7570, with a volume of 3862252 shares changing hands. The stock had previously closed at $21.09.

Sprott Physical Silver Trust Stock Up 3.9%

The business’s fifty day simple moving average is $17.49 and its 200-day simple moving average is $14.73.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in shares of Sprott Physical Silver Trust by 3.3% during the 3rd quarter. US Bancorp DE now owns 18,920 shares of the exchange traded fund’s stock worth $297,000 after acquiring an additional 596 shares during the last quarter. OneAscent Financial Services LLC increased its stake in Sprott Physical Silver Trust by 1.0% in the third quarter. OneAscent Financial Services LLC now owns 69,676 shares of the exchange traded fund’s stock worth $1,094,000 after purchasing an additional 656 shares during the period. Carnegie Lake Advisors LLC increased its stake in Sprott Physical Silver Trust by 1.2% in the third quarter. Carnegie Lake Advisors LLC now owns 62,750 shares of the exchange traded fund’s stock worth $985,000 after purchasing an additional 750 shares during the period. Sandy Cove Advisors LLC lifted its position in shares of Sprott Physical Silver Trust by 4.9% during the third quarter. Sandy Cove Advisors LLC now owns 17,000 shares of the exchange traded fund’s stock worth $267,000 after purchasing an additional 800 shares during the last quarter. Finally, Destiny Wealth Partners LLC boosted its stake in shares of Sprott Physical Silver Trust by 2.9% during the second quarter. Destiny Wealth Partners LLC now owns 32,085 shares of the exchange traded fund’s stock valued at $393,000 after purchasing an additional 904 shares during the period.

About Sprott Physical Silver Trust

Sprott Physical Silver Trust is a closed-end investment trust company, which engages in the provision of a secure, convenient, and exchange-traded investment alternative for investors interested in holding physical silver bullion without the inconvenience that is typical of a direct investment in physical silver bullion.