Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Up – Time to Buy?

Shares of Sprott Physical Silver Trust (NYSEARCA:PSLV) gapped up before the market opened on Wednesday . The stock had previously closed at $28.75, but opened at $30.37. Sprott Physical Silver Trust shares last traded at $29.95, with a volume of 6,521,771 shares trading hands.

Sprott Physical Silver Trust Stock Down 2.9%

The company has a 50 day moving average price of $21.38 and a 200-day moving average price of $16.70.

Institutional Trading of Sprott Physical Silver Trust

A number of institutional investors and hedge funds have recently bought and sold shares of PSLV. Sharp Wealth Advisory LLC bought a new position in shares of Sprott Physical Silver Trust during the fourth quarter worth about $395,000. Beaumont Financial Advisors LLC increased its position in Sprott Physical Silver Trust by 24.0% during the 4th quarter. Beaumont Financial Advisors LLC now owns 134,878 shares of the exchange traded fund’s stock valued at $3,190,000 after purchasing an additional 26,125 shares during the period. Matauro LLC raised its holdings in Sprott Physical Silver Trust by 2.2% during the 4th quarter. Matauro LLC now owns 34,053 shares of the exchange traded fund’s stock worth $805,000 after purchasing an additional 743 shares during the last quarter. Blue Trust Inc. raised its holdings in Sprott Physical Silver Trust by 141.1% during the 4th quarter. Blue Trust Inc. now owns 9,170 shares of the exchange traded fund’s stock worth $217,000 after purchasing an additional 5,366 shares during the last quarter. Finally, Surience Private Wealth LLC acquired a new position in shares of Sprott Physical Silver Trust in the 4th quarter worth approximately $337,000.

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.