Sprott Physical Silver Trust (NYSEARCA:PSLV) Reaches 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 Monday . The company traded as high as $36.04 and last traded at $36.2640, with a volume of 6043353 shares. The stock had previously closed at $33.22.

Sprott Physical Silver Trust Stock Up 10.8%

The firm has a 50 day simple moving average of $23.04 and a 200 day simple moving average of $17.53.

Institutional Trading of Sprott Physical Silver Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of PSLV. CWM LLC boosted its holdings in Sprott Physical Silver Trust by 19.5% in the 4th quarter. CWM LLC now owns 4,870 shares of the exchange traded fund’s stock valued at $115,000 after purchasing an additional 795 shares during the period. PFG Investments LLC grew its holdings in shares of Sprott Physical Silver Trust by 5.5% during the fourth quarter. PFG Investments LLC now owns 92,982 shares of the exchange traded fund’s stock worth $2,199,000 after purchasing an additional 4,825 shares in the last quarter. Valmark Advisers Inc. bought a new position in shares of Sprott Physical Silver Trust in the fourth quarter worth approximately $357,000. Abbington Investment Group raised its stake in Sprott Physical Silver Trust by 2.0% in the fourth quarter. Abbington Investment Group now owns 271,872 shares of the exchange traded fund’s stock valued at $6,430,000 after purchasing an additional 5,236 shares in the last quarter. Finally, Smith Moore & CO. lifted its position in Sprott Physical Silver Trust by 2.3% during the fourth quarter. Smith Moore & CO. now owns 118,229 shares of the exchange traded fund’s stock valued at $2,796,000 after purchasing an additional 2,619 shares during the last quarter.

Sprott Physical Silver Trust Company Profile

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.