iShares Silver Trust (NYSEARCA:SLV) Reaches New 52-Week High – Here’s Why

by · The Markets Daily

Shares of iShares Silver Trust (NYSEARCA:SLVGet Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $71.82 and last traded at $72.7450, with a volume of 9122565 shares. The stock had previously closed at $69.08.

iShares Silver Trust News Summary

Here are the key news stories impacting iShares Silver Trust this week:

iShares Silver Trust Stock Down 4.8%

The company has a market capitalization of $39.36 billion, a P/E ratio of -8.51 and a beta of 0.38. The company’s 50-day moving average is $54.40 and its two-hundred day moving average is $43.54.

Institutional Trading of iShares Silver Trust

Several large investors have recently added to or reduced their stakes in SLV. Kingstone Capital Partners Texas LLC purchased a new position in shares of iShares Silver Trust during the second quarter valued at approximately $162,217,000. Quadrature Capital Ltd increased its position in iShares Silver Trust by 1,691.5% during the third quarter. Quadrature Capital Ltd now owns 960,353 shares of the exchange traded fund’s stock valued at $40,681,000 after acquiring an additional 906,747 shares during the last quarter. GLOBALT Investments LLC GA bought a new position in shares of iShares Silver Trust in the second quarter worth approximately $29,459,000. Guggenheim Capital LLC raised its position in shares of iShares Silver Trust by 1,557.6% during the 2nd quarter. Guggenheim Capital LLC now owns 914,527 shares of the exchange traded fund’s stock valued at $30,006,000 after purchasing an additional 859,355 shares during the period. Finally, Mainstay Capital Management LLC ADV boosted its holdings in iShares Silver Trust by 478.6% in the 3rd quarter. Mainstay Capital Management LLC ADV now owns 999,890 shares of the exchange traded fund’s stock worth $42,365,000 after buying an additional 827,089 shares during the period.

iShares Silver Trust Company Profile

(Get Free Report)

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.

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