iShares Silver Trust (NYSEARCA:SLV) Reaches New 12-Month High – Still a Buy?

iShares Silver Trust (NYSEARCA:SLV)’s stock price reached a new 52-week high on Monday . The stock traded as high as $77.40 and last traded at $77.3270, with a volume of 26802920 shares. The stock had previously closed at $72.38.

iShares Silver Trust Stock Performance

The firm has a fifty day moving average price of $55.47 and a 200 day moving average price of $44.16. The company has a market cap of $44.63 billion, a price-to-earnings ratio of -8.51 and a beta of 0.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new stake in shares of iShares Silver Trust during the second quarter valued at approximately $162,217,000. Meitav Investment House Ltd. boosted its position in shares of iShares Silver Trust by 5.4% in the 2nd quarter. Meitav Investment House Ltd. now owns 2,972,600 shares of the exchange traded fund’s stock worth $97,589,000 after purchasing an additional 152,600 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of iShares Silver Trust by 12.7% in the 3rd quarter. Raymond James Financial Inc. now owns 2,786,172 shares of the exchange traded fund’s stock valued at $118,050,000 after acquiring an additional 313,816 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in iShares Silver Trust by 27.3% in the third quarter. Ameriprise Financial Inc. now owns 2,676,218 shares of the exchange traded fund’s stock worth $113,391,000 after purchasing an additional 573,660 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in iShares Silver Trust by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 2,023,406 shares of the exchange traded fund’s stock worth $85,732,000 after acquiring an additional 26,710 shares in the last quarter.

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.