abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) Shares Gap Up – Here’s What Happened

abrdn Physical Silver Shares ETF (NYSEARCA:SIVR)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $82.55, but opened at $87.53. abrdn Physical Silver Shares ETF shares last traded at $86.6450, with a volume of 1,833,501 shares traded.

abrdn Physical Silver Shares ETF Stock Performance

The firm’s 50 day moving average is $59.69 and its 200-day moving average is $47.01.

Hedge Funds Weigh In On abrdn Physical Silver Shares ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in abrdn Physical Silver Shares ETF by 2.0% during the 1st quarter. Royal Bank of Canada now owns 180,144 shares of the company’s stock worth $5,857,000 after acquiring an additional 3,465 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of abrdn Physical Silver Shares ETF by 45.1% in the first quarter. Geneos Wealth Management Inc. now owns 6,181 shares of the company’s stock valued at $201,000 after purchasing an additional 1,922 shares in the last quarter. Gradient Investments LLC raised its position in abrdn Physical Silver Shares ETF by 7.4% in the 2nd quarter. Gradient Investments LLC now owns 261,689 shares of the company’s stock worth $9,005,000 after purchasing an additional 17,962 shares during the last quarter. Focus Financial Network Inc. raised its position in abrdn Physical Silver Shares ETF by 4.8% in the 2nd quarter. Focus Financial Network Inc. now owns 11,054 shares of the company’s stock worth $380,000 after purchasing an additional 504 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in abrdn Physical Silver Shares ETF by 18.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 45,900 shares of the company’s stock worth $1,612,000 after buying an additional 7,311 shares in the last quarter.

About abrdn Physical Silver Shares ETF

ETFS Silver Trust (the Trust) is formed to own silver transferred to the Trust in exchange for shares issued by the Trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of silver bullion, less the expenses of the Trust’s operations. ETFS Physical Silver Shares (the Shares) are issued by ETFS Silver Trust. The sponsor of the Trust is ETF Securities USA LLC.