iShares Silver Trust (NYSEARCA:SLV) Shares Gap Down – What’s Next?

iShares Silver Trust (NYSEARCA:SLVGet Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $79.18, but opened at $68.23. iShares Silver Trust shares last traded at $67.0520, with a volume of 53,612,567 shares.

More iShares Silver Trust News

Here are the key news stories impacting iShares Silver Trust this week:

iShares Silver Trust Stock Performance

The stock has a market cap of $38.64 billion, a P/E ratio of -8.51 and a beta of 0.38. The firm has a 50-day moving average price of $70.78 and a 200-day moving average price of $51.04.

Hedge Funds Weigh In On iShares Silver Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Center for Financial Planning Inc. purchased a new position in iShares Silver Trust during the 2nd quarter valued at about $25,000. Addison Advisors LLC bought a new position in shares of iShares Silver Trust during the second quarter valued at approximately $31,000. Nexus Investment Management ULC increased its stake in shares of iShares Silver Trust by 50.0% during the third quarter. Nexus Investment Management ULC now owns 750 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 250 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of iShares Silver Trust during the third quarter valued at approximately $32,000. Finally, Rialto Wealth Management LLC bought a new stake in shares of iShares Silver Trust in the 4th quarter worth approximately $33,000.

About iShares Silver Trust

(Get Free Report)

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.

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