iShares Silver Trust (NYSEARCA:SLV) Sees Strong Trading Volume – Here’s What Happened

iShares Silver Trust (NYSEARCA:SLV) saw unusually-strong trading volume on Wednesday . Approximately 21,971,889 shares were traded during mid-day trading, a decline of 17% from the previous session’s volume of 26,459,016 shares.The stock last traded at $64.1950 and had previously closed at $64.84.

iShares Silver Trust Trading Up 0.6%

The company has a 50-day simple moving average of $50.09 and a 200 day simple moving average of $41.28. The company has a market cap of $35.14 billion, a P/E ratio of -8.51 and a beta of 0.38.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC purchased a new stake in iShares Silver Trust in the 2nd quarter valued at about $162,217,000. Meitav Investment House Ltd. raised its stake in shares of iShares Silver Trust by 5.4% during the second quarter. Meitav Investment House Ltd. now owns 2,972,600 shares of the exchange traded fund’s stock valued at $97,589,000 after acquiring an additional 152,600 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of iShares Silver Trust by 12.7% in the third quarter. Raymond James Financial Inc. now owns 2,786,172 shares of the exchange traded fund’s stock valued at $118,050,000 after purchasing an additional 313,816 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of 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 valued at $113,391,000 after purchasing an additional 573,660 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in iShares Silver Trust by 1.3% in 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 purchasing an additional 26,710 shares in the last quarter.

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.