Fortis Group Advisors LLC Has $4.46 Million Position in iShares Silver Trust $SLV

Fortis Group Advisors LLC grew its stake in iShares Silver Trust (NYSEARCA:SLV) by 7,252.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 101,313 shares of the exchange traded fund’s stock after acquiring an additional 99,935 shares during the period. Fortis Group Advisors LLC’s holdings in iShares Silver Trust were worth $4,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Center for Financial Planning Inc. acquired a new position in shares of iShares Silver Trust during the 2nd quarter worth $25,000. Addison Advisors LLC bought a new position in iShares Silver Trust in the second quarter valued at about $31,000. Nexus Investment Management ULC raised its stake in 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 worth $32,000 after acquiring an additional 250 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in iShares Silver Trust during the third quarter worth about $32,000. Finally, Hopwood Financial Services Inc. bought a new position in shares of iShares Silver Trust in the third quarter worth about $38,000.

iShares Silver Trust Trading Down 4.8%

SLV opened at $66.37 on Wednesday. The company has a market cap of $36.54 billion, a P/E ratio of -8.51 and a beta of 0.38. The company’s 50 day moving average is $73.34 and its 200-day moving average is $53.08. iShares Silver Trust has a 1-year low of $26.57 and a 1-year high of $109.83.

iShares Silver Trust Profile

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.