Hoey Investments Inc. Grows Stock Holdings in iShares Silver Trust $SLV

Hoey Investments Inc. grew its stake in iShares Silver Trust (NYSEARCA:SLV) by 29.4% in the first quarter, Holdings Channel.com reports. The firm owned 46,184 shares of the exchange traded fund’s stock after acquiring an additional 10,485 shares during the quarter. iShares Silver Trust makes up approximately 0.5% of Hoey Investments Inc.’s investment portfolio, making the stock its 20th biggest position. Hoey Investments Inc.’s holdings in iShares Silver Trust were worth $3,147,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sarver Vrooman Wealth Advisors acquired a new stake in shares of iShares Silver Trust in the 4th quarter worth $30,000. Intesa Sanpaolo Wealth Management purchased a new stake in shares of iShares Silver Trust in the fourth quarter valued at about $32,000. Sfam LLC purchased a new stake in shares of iShares Silver Trust in the fourth quarter valued at about $33,000. Rialto Wealth Management LLC acquired a new stake in iShares Silver Trust during the fourth quarter worth about $33,000. Finally, Redwood Park Advisors LLC increased its position in iShares Silver Trust by 106.4% during the fourth quarter. Redwood Park Advisors LLC now owns 516 shares of the exchange traded fund’s stock worth $33,000 after purchasing an additional 266 shares during the last quarter.

iShares Silver Trust Price Performance

Shares of SLV stock opened at $55.66 on Tuesday. The company has a market capitalization of $29.73 billion, a PE ratio of -8.51 and a beta of 0.49. The firm’s 50-day moving average is $64.34 and its two-hundred day moving average is $70.06. iShares Silver Trust has a 12 month low of $32.96 and a 12 month high of $109.83.

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.