iShares MSCI Global Silver and Metals Miners ETF (BATS:SLVP) Trading 5.2% Higher – Still a Buy?

iShares MSCI Global Silver and Metals Miners ETF (BATS:SLVP)’s stock price rose 5.2% during mid-day trading on Monday . The stock traded as high as $41.04 and last traded at $40.76. Approximately 686,111 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 792,227 shares. The stock had previously closed at $38.76.

iShares MSCI Global Silver and Metals Miners ETF Stock Up 5.2%

The company has a market cap of $737.76 million, a P/E ratio of 26.00 and a beta of 0.76. The company has a 50 day moving average price of $37.60 and a 200-day moving average price of $35.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. grew its stake in shares of iShares MSCI Global Silver and Metals Miners ETF by 3.7% in the second quarter. Ameriprise Financial Inc. now owns 218,306 shares of the company’s stock worth $3,888,000 after purchasing an additional 7,812 shares in the last quarter. CoreCap Advisors LLC bought a new position in iShares MSCI Global Silver and Metals Miners ETF during the fourth quarter valued at about $2,417,000. Harbour Trust & Investment Management Co bought a new position in iShares MSCI Global Silver and Metals Miners ETF during the third quarter valued at about $251,000. Accordant Advisory Group Inc boosted its stake in iShares MSCI Global Silver and Metals Miners ETF by 2.6% during the fourth quarter. Accordant Advisory Group Inc now owns 8,716 shares of the company’s stock valued at $299,000 after buying an additional 221 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new position in iShares MSCI Global Silver and Metals Miners ETF during the second quarter valued at about $114,000.

About iShares MSCI Global Silver and Metals Miners ETF

The iShares MSCI Global Silver and Metals Miners ETF (SLVP) is an exchange-traded fund that is based on the MSCI ACWI Select Silver Miners IMI index, a market-cap-weighted index of global companies that earn the majority of their revenues from silver mining. SLVP was launched on Jan 31, 2012 and is managed by BlackRock.