abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) Shares Gap Up – Should You Buy?

Shares of abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) gapped up before the market opened on Friday . The stock had previously closed at $67.64, but opened at $70.71. abrdn Physical Silver Shares ETF shares last traded at $70.2260, with a volume of 723,313 shares.

abrdn Physical Silver Shares ETF Trading Up 2.1%

The stock’s 50-day simple moving average is $55.31 and its 200 day simple moving average is $44.86.

Institutional Trading of abrdn Physical Silver Shares ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in abrdn Physical Silver Shares ETF by 243.1% during the third quarter. JPMorgan Chase & Co. now owns 5,966,410 shares of the company’s stock worth $265,386,000 after buying an additional 4,227,392 shares in the last quarter. Bank of America Corp DE grew its holdings in abrdn Physical Silver Shares ETF by 55.1% during the 3rd quarter. Bank of America Corp DE now owns 1,627,112 shares of the company’s stock worth $72,374,000 after acquiring an additional 578,217 shares during the last quarter. Quadrature Capital Ltd increased its holdings in abrdn Physical Silver Shares ETF by 250.9% in the second quarter. Quadrature Capital Ltd now owns 506,714 shares of the company’s stock valued at $17,431,000 after purchasing an additional 362,296 shares during the period. McIlrath & Eck LLC acquired a new stake in shares of abrdn Physical Silver Shares ETF in the second quarter valued at about $12,149,000. Finally, Vestmark Advisory Solutions Inc. acquired a new stake in abrdn Physical Silver Shares ETF during the 3rd quarter valued at approximately $11,193,000.

abrdn Physical Silver Shares ETF Company Profile

ETFS Silver Trust (the Trust) is formed to own silver transferred to the Trust in exchange for shares issued by the Trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of silver bullion, less the expenses of the Trust’s operations. ETFS Physical Silver Shares (the Shares) are issued by ETFS Silver Trust. The sponsor of the Trust is ETF Securities USA LLC.