iShares Silver Trust (NYSEARCA:SLV) Shares Gap Down – Time to Sell?

Shares of iShares Silver Trust (NYSEARCA:SLV) gapped down before the market opened 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 Down 4.5%

The firm has a market capitalization of $30.12 billion, a P/E ratio of -8.51 and a beta of 0.45. The business’s 50 day simple moving average is $67.40 and its two-hundred day simple moving average is $70.17.

Hedge Funds Weigh In On iShares Silver Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new stake in shares of iShares Silver Trust in the first quarter valued at approximately $2,762,000. Ameliora Wealth Management Ltd. increased its holdings in iShares Silver Trust by 15.4% during the 4th quarter. Ameliora Wealth Management Ltd. now owns 86,670 shares of the exchange traded fund’s stock worth $5,583,000 after purchasing an additional 11,563 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in iShares Silver Trust by 33.1% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 37,770 shares of the exchange traded fund’s stock worth $2,433,000 after purchasing an additional 9,391 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in iShares Silver Trust by 47.8% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 29,015 shares of the exchange traded fund’s stock valued at $1,869,000 after purchasing an additional 9,384 shares in the last quarter. Finally, Finer Wealth Management Inc. bought a new stake in iShares Silver Trust during the 4th quarter valued at $709,000.

iShares Silver Trust Company Profile

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.