iShares Silver Trust (NYSEARCA:SLV) Shares Gap Up – Here’s Why

iShares Silver Trust (NYSEARCA:SLV) shares gapped up prior to trading on Friday . The stock had previously closed at $65.22, but opened at $67.83. iShares Silver Trust shares last traded at $68.0330, with a volume of 22,860,633 shares changing hands.

iShares Silver Trust Stock Up 9.0%

The company has a market capitalization of $38.32 billion, a P/E ratio of -8.51 and a beta of 0.38. The business has a fifty day moving average price of $50.57 and a 200 day moving average price of $41.60.

Institutional Investors Weigh In On iShares Silver Trust

Several institutional investors have recently bought and sold shares of SLV. Keel Point LLC grew its stake in shares of iShares Silver Trust by 7.2% during the 3rd quarter. Keel Point LLC now owns 163,201 shares of the exchange traded fund’s stock worth $6,915,000 after acquiring an additional 11,025 shares in the last quarter. Mainstay Capital Management LLC ADV lifted its position in shares of iShares Silver Trust by 478.6% in the third quarter. Mainstay Capital Management LLC ADV now owns 999,890 shares of the exchange traded fund’s stock worth $42,365,000 after purchasing an additional 827,089 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in iShares Silver Trust by 107.7% during the third quarter. Strategic Investment Solutions Inc. IL now owns 108,450 shares of the exchange traded fund’s stock worth $4,595,000 after purchasing an additional 56,235 shares during the last quarter. Innova Wealth Partners grew its position in iShares Silver Trust by 11.4% in the third quarter. Innova Wealth Partners now owns 7,835 shares of the exchange traded fund’s stock valued at $332,000 after purchasing an additional 800 shares in the last quarter. Finally, Lantern Wealth Advisors LLC bought a new position in iShares Silver Trust in the third quarter valued at $316,000.

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.