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

Shares of iShares Silver Trust (NYSEARCA:SLV) gapped down prior to trading on Wednesday . The stock had previously closed at $55.73, but opened at $52.94. iShares Silver Trust shares last traded at $53.5620, with a volume of 10,879,965 shares trading hands.

iShares Silver Trust Trading Up 1.1%

The stock has a market cap of $29.64 billion, a PE ratio of -8.51 and a beta of 0.45. The company’s 50 day moving average is $66.67 and its 200-day moving average is $70.16.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SLV. Brighton Jones LLC increased its holdings in iShares Silver Trust by 9.2% during the 4th quarter. Brighton Jones LLC now owns 18,858 shares of the exchange traded fund’s stock worth $497,000 after purchasing an additional 1,595 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of iShares Silver Trust during the 4th quarter valued at approximately $238,000. Capstone Wealth Management Group LLC acquired a new stake in shares of iShares Silver Trust during the first quarter worth approximately $443,000. Schnieders Capital Management LLC. grew its position in shares of iShares Silver Trust by 15.0% during the second quarter. Schnieders Capital Management LLC. now owns 9,975 shares of the exchange traded fund’s stock worth $327,000 after buying an additional 1,300 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of iShares Silver Trust in the second quarter worth $886,000.

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.