Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Down – Time to Sell?

Shares of Sprott Physical Silver Trust (NYSEARCA:PSLV) gapped down before the market opened on Thursday . The stock had previously closed at $24.49, but opened at $21.95. Sprott Physical Silver Trust shares last traded at $22.64, with a volume of 13,745,778 shares traded.

Sprott Physical Silver Trust Price Performance

The firm has a 50-day moving average price of $28.11 and a two-hundred day moving average price of $21.53.

Hedge Funds Weigh In On Sprott Physical Silver Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in PSLV. World Investment Advisors boosted its holdings in Sprott Physical Silver Trust by 38.6% in the third quarter. World Investment Advisors now owns 771,495 shares of the exchange traded fund’s stock valued at $12,112,000 after acquiring an additional 214,997 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Sprott Physical Silver Trust by 8.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 513,523 shares of the exchange traded fund’s stock worth $8,062,000 after purchasing an additional 38,084 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Sprott Physical Silver Trust during the 3rd quarter valued at about $795,000. CreativeOne Wealth LLC boosted its stake in shares of Sprott Physical Silver Trust by 157.2% in the 2nd quarter. CreativeOne Wealth LLC now owns 66,928 shares of the exchange traded fund’s stock valued at $819,000 after purchasing an additional 40,908 shares during the last quarter. Finally, Abbington Investment Group bought a new position in shares of Sprott Physical Silver Trust in the 3rd quarter valued at about $4,186,000.

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.