iShares Silver Trust (NYSEARCA:SLV) Shares Down 6.3% – Here’s What Happened

iShares Silver Trust (NYSEARCA:SLVGet Free Report) shares fell 6.3% during mid-day trading on Monday . The stock traded as low as $69.68 and last traded at $70.65. 83,221,466 shares traded hands during trading, a decline of 48% from the average session volume of 159,795,125 shares. The stock had previously closed at $75.44.

Key iShares Silver Trust News

Here are the key news stories impacting iShares Silver Trust this week:

iShares Silver Trust Stock Performance

The stock has a market capitalization of $44.50 billion, a PE ratio of -8.51 and a beta of 0.38. The stock’s 50-day moving average is $70.03 and its 200 day moving average is $50.68.

Hedge Funds Weigh In On iShares Silver Trust

Hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its position in shares of iShares Silver Trust by 14.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 242,573 shares of the exchange traded fund’s stock valued at $10,525,000 after acquiring an additional 30,915 shares in the last quarter. Adamsbrown Wealth Consultants LLC bought a new stake in iShares Silver Trust during the third quarter worth approximately $235,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in iShares Silver Trust in the 3rd quarter worth $832,000. Benjamin Edwards Inc. grew its holdings in iShares Silver Trust by 298.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 50,197 shares of the exchange traded fund’s stock valued at $2,127,000 after buying an additional 37,598 shares during the last quarter. Finally, Continuum Advisory LLC acquired a new position in iShares Silver Trust during the 3rd quarter valued at $524,000.

iShares Silver Trust Company Profile

(Get Free Report)

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.

Further Reading

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