Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Up – Should You Buy?

Sprott Physical Silver Trust (NYSEARCA:PSLV)’s share price gapped up before the market opened on Friday . The stock had previously closed at $23.65, but opened at $24.78. Sprott Physical Silver Trust shares last traded at $24.5450, with a volume of 2,149,219 shares.

Sprott Physical Silver Trust Stock Up 2.5%

The firm has a fifty day simple moving average of $19.10 and a 200-day simple moving average of $15.66.

Institutional Investors Weigh In On Sprott Physical Silver Trust

Several large investors have recently made changes to their positions in PSLV. JPMorgan Chase & Co. lifted its position in Sprott Physical Silver Trust by 25.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 145,990 shares of the exchange traded fund’s stock valued at $2,292,000 after acquiring an additional 30,062 shares in the last quarter. Strategic Advocates LLC bought a new position in Sprott Physical Silver Trust during the 3rd quarter worth about $29,000. Greenfield Seitz Capital Management LLC raised its stake in shares of Sprott Physical Silver Trust by 63.1% in the 3rd quarter. Greenfield Seitz Capital Management LLC now owns 46,800 shares of the exchange traded fund’s stock valued at $735,000 after purchasing an additional 18,100 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of Sprott Physical Silver Trust in the third quarter valued at about $379,000. Finally, Sunbelt Securities Inc. boosted its position in shares of Sprott Physical Silver Trust by 27.1% during the third quarter. Sunbelt Securities Inc. now owns 21,098 shares of the exchange traded fund’s stock worth $331,000 after buying an additional 4,498 shares during the period.

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.