Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Down – Here’s Why

Sprott Physical Silver Trust (NYSEARCA:PSLV) gapped down prior to trading on Monday . The stock had previously closed at $26.04, but opened at $24.20. Sprott Physical Silver Trust shares last traded at $24.0110, with a volume of 7,695,039 shares trading hands.

Sprott Physical Silver Trust Trading Down 8.2%

The company has a fifty day moving average price of $18.47 and a 200-day moving average price of $15.37.

Institutional Trading of Sprott Physical Silver Trust

Hedge funds have recently made changes to their positions in the business. Highline Wealth Partners LLC purchased a new position in Sprott Physical Silver Trust in the third quarter worth about $25,000. Strategic Advocates LLC bought a new stake in shares of Sprott Physical Silver Trust in the 3rd quarter valued at approximately $29,000. Redwood Park Advisors LLC purchased a new position in shares of Sprott Physical Silver Trust in the 2nd quarter worth approximately $32,000. Atlantic Union Bankshares Corp purchased a new position in shares of Sprott Physical Silver Trust in the 2nd quarter worth approximately $32,000. Finally, Franklin Resources Inc. bought a new position in shares of Sprott Physical Silver Trust during the 3rd quarter valued at approximately $39,000.

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. The Trust invests and intends to continue to invest primarily in long-term holdings of unencumbered, fully allocated, physical silver bullion, and does not speculate with regard to short-term changes in silver prices.