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

iShares Silver Trust (NYSEARCA:SLV)’s stock price reached a new 52-week low on Friday. The company traded as low as $43.97 and last traded at $44.1130, with a volume of 14,271,217 shares changing hands. The stock had previously closed at $45.12.

iShares Silver Trust Trading Down 2.2%

The company has a market capitalization of $24.76 billion, a price-to-earnings ratio of -8.51 and a beta of 0.53. The firm’s 50 day simple moving average is $52.87 and its 200-day simple moving average is $62.30.

Institutional Trading of iShares Silver Trust

Several hedge funds have recently made changes to their positions in the company. Pathstone Holdings LLC raised its holdings in iShares Silver Trust by 0.7% during the third quarter. Pathstone Holdings LLC now owns 57,578 shares of the exchange traded fund’s stock worth $3,084,000 after purchasing an additional 388 shares in the last quarter. Empowered Funds LLC lifted its position in iShares Silver Trust by 9.8% in the third quarter. Empowered Funds LLC now owns 38,590 shares of the exchange traded fund’s stock valued at $2,104,000 after purchasing an additional 3,459 shares during the period. PSI Advisors LLC acquired a new stake in iShares Silver Trust in the third quarter valued at about $254,000. Advisory Alpha LLC lifted its position in iShares Silver Trust by 26.8% in the third quarter. Advisory Alpha LLC now owns 21,720 shares of the exchange traded fund’s stock valued at $1,184,000 after purchasing an additional 4,594 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in iShares Silver Trust by 5.5% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 236,974 shares of the exchange traded fund’s stock valued at $12,917,000 after purchasing an additional 12,433 shares in the last quarter.

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.