iShares Silver Trust (NYSEARCA:SLV) Shares Gap Down – Should You Sell?

iShares Silver Trust (NYSEARCA:SLVGet Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $79.18, but opened at $68.23. iShares Silver Trust shares last traded at $67.0520, with a volume of 53,612,567 shares trading hands.

More iShares Silver Trust News

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

iShares Silver Trust Stock Down 12.1%

The stock has a market cap of $38.31 billion, a PE ratio of -8.51 and a beta of 0.38. The stock has a fifty day moving average of $70.03 and a 200-day moving average of $50.68.

Institutional Investors Weigh In On iShares Silver Trust

Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas increased its holdings in shares of iShares Silver Trust by 259.9% in the 4th quarter. Teacher Retirement System of Texas now owns 1,400,000 shares of the exchange traded fund’s stock valued at $90,188,000 after purchasing an additional 1,011,000 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in iShares Silver Trust by 1,691.5% during the third quarter. Quadrature Capital Ltd now owns 960,353 shares of the exchange traded fund’s stock worth $40,681,000 after buying an additional 906,747 shares in the last quarter. GLOBALT Investments LLC GA acquired a new position in iShares Silver Trust during the second quarter worth about $29,459,000. Guggenheim Capital LLC increased its holdings in iShares Silver Trust by 1,557.6% in the second quarter. Guggenheim Capital LLC now owns 914,527 shares of the exchange traded fund’s stock valued at $30,006,000 after buying an additional 859,355 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV increased its holdings in iShares Silver Trust by 478.6% in the third 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 in the last quarter.

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.

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