iShares Silver Trust (NYSEARCA:SLV) Sees Strong Trading Volume – Here’s Why

iShares Silver Trust (NYSEARCA:SLV) shares saw unusually-high trading volume on Wednesday . Approximately 21,971,889 shares traded hands during mid-day trading, a decline of 17% from the previous session’s volume of 26,459,016 shares.The stock last traded at $64.1950 and had previously closed at $64.84.

iShares Silver Trust Stock Down 0.1%

The business has a 50-day moving average price of $49.43 and a 200-day moving average price of $40.94. The firm has a market capitalization of $34.88 billion, a price-to-earnings ratio of -8.51 and a beta of 0.38.

Institutional Investors Weigh In On iShares Silver Trust

A number of large investors have recently modified their holdings of SLV. Kingstone Capital Partners Texas LLC purchased a new position in iShares Silver Trust in the 2nd quarter worth $162,217,000. Meitav Investment House Ltd. grew its stake in iShares Silver Trust by 5.4% during the 2nd quarter. Meitav Investment House Ltd. now owns 2,972,600 shares of the exchange traded fund’s stock valued at $97,589,000 after purchasing an additional 152,600 shares during the last quarter. Raymond James Financial Inc. increased its holdings in shares of iShares Silver Trust by 12.7% in the third quarter. Raymond James Financial Inc. now owns 2,786,172 shares of the exchange traded fund’s stock valued at $118,050,000 after purchasing an additional 313,816 shares during the period. Ameriprise Financial Inc. raised its stake in shares of iShares Silver Trust by 27.3% in the third quarter. Ameriprise Financial Inc. now owns 2,676,218 shares of the exchange traded fund’s stock worth $113,391,000 after purchasing an additional 573,660 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its stake in shares of iShares Silver Trust by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 2,023,406 shares of the exchange traded fund’s stock worth $85,732,000 after purchasing an additional 26,710 shares during 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.