iShares Silver Trust (NYSEARCA:SLV) Reaches New 12-Month High – Here’s Why

iShares Silver Trust (NYSEARCA:SLV)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $86.21 and last traded at $85.9790, with a volume of 31763610 shares trading hands. The stock had previously closed at $81.02.

iShares Silver Trust Stock Performance

The business’s fifty day moving average price is $59.92 and its two-hundred day moving average price is $46.18. The stock has a market capitalization of $49.37 billion, a P/E ratio of -8.51 and a beta of 0.38.

Institutional Investors Weigh In On iShares Silver Trust

Several institutional investors have recently modified their holdings of SLV. Center for Financial Planning Inc. purchased a new stake in iShares Silver Trust during the 2nd quarter valued at $25,000. Highline Wealth Partners LLC bought a new position in iShares Silver Trust during the second quarter valued at $26,000. Addison Advisors LLC purchased a new stake in shares of iShares Silver Trust in the second quarter valued at $31,000. Nexus Investment Management ULC lifted its holdings in shares of iShares Silver Trust by 50.0% in the 3rd quarter. Nexus Investment Management ULC now owns 750 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 250 shares during the last quarter. Finally, Raleigh Capital Management Inc. bought a new stake in shares of iShares Silver Trust in the 3rd quarter worth about $32,000.

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.