Sprott Physical Silver Trust (NYSEARCA:PSLV) Stock Price Down 7.8% – Time to Sell?

Sprott Physical Silver Trust (NYSEARCA:PSLV)’s stock price dropped 7.8% on Monday . The stock traded as low as $24.05 and last traded at $24.35. Approximately 18,972,443 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 28,476,699 shares. The stock had previously closed at $26.41.

Sprott Physical Silver Trust Stock Up 3.6%

The firm has a fifty day simple moving average of $25.31 and a 200-day simple moving average of $18.52.

Institutional Investors Weigh In On Sprott Physical Silver Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC raised its stake in Sprott Physical Silver Trust by 163.6% in the second quarter. Jane Street Group LLC now owns 5,772,074 shares of the exchange traded fund’s stock valued at $70,650,000 after purchasing an additional 3,582,153 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Sprott Physical Silver Trust by 29.0% during the third quarter. Jupiter Asset Management Ltd. now owns 9,814,158 shares of the exchange traded fund’s stock worth $153,560,000 after purchasing an additional 2,203,767 shares during the period. 3EDGE Asset Management LP acquired a new position in shares of Sprott Physical Silver Trust in the 3rd quarter worth approximately $34,374,000. Alps Advisors Inc. boosted its position in Sprott Physical Silver Trust by 118.7% during the third quarter. Alps Advisors Inc. now owns 3,052,702 shares of the exchange traded fund’s stock valued at $47,927,000 after acquiring an additional 1,657,153 shares during the last quarter. Finally, TT Capital Management LLC increased its holdings in Sprott Physical Silver Trust by 4,785.4% in the second quarter. TT Capital Management LLC now owns 687,475 shares of the exchange traded fund’s stock worth $8,415,000 after purchasing an additional 673,403 shares in the last quarter.

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.