iShares Silver Trust (NYSEARCA:SLV) Sets New 52-Week High – Here’s What Happened

iShares Silver Trust (NYSEARCA:SLV) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $62.82 and last traded at $62.47, with a volume of 50305962 shares trading hands. The stock had previously closed at $60.93.

iShares Silver Trust Trading Up 2.5%

The company has a market cap of $33.66 billion, a P/E ratio of -8.51 and a beta of 0.38. The company’s 50-day moving average price is $49.07 and its two-hundred day moving average price is $40.71.

Institutional Investors Weigh In On iShares Silver Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Keel Point LLC increased its stake in iShares Silver Trust by 7.2% during the third quarter. Keel Point LLC now owns 163,201 shares of the exchange traded fund’s stock valued at $6,915,000 after purchasing an additional 11,025 shares during the last quarter. Mainstay Capital Management LLC ADV grew its position in shares of iShares Silver Trust by 478.6% during the 3rd quarter. Mainstay Capital Management LLC ADV now owns 999,890 shares of the exchange traded fund’s stock valued at $42,365,000 after buying an additional 827,089 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its stake in iShares Silver Trust by 107.7% during the third quarter. Strategic Investment Solutions Inc. IL now owns 108,450 shares of the exchange traded fund’s stock worth $4,595,000 after acquiring an additional 56,235 shares during the period. Innova Wealth Partners lifted its holdings in iShares Silver Trust by 11.4% in the third quarter. Innova Wealth Partners now owns 7,835 shares of the exchange traded fund’s stock worth $332,000 after acquiring an additional 800 shares during the last quarter. Finally, Lantern Wealth Advisors LLC acquired a new position in iShares Silver Trust in the third quarter valued at approximately $316,000.

iShares Silver Trust Company 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.