Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Up – Should You Buy?

Sprott Physical Silver Trust (NYSEARCA:PSLV)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $23.65, but opened at $24.78. Sprott Physical Silver Trust shares last traded at $24.5450, with a volume of 2,149,219 shares traded.

Sprott Physical Silver Trust Trading Up 2.5%

The company has a 50 day simple moving average of $19.26 and a 200-day simple moving average of $15.76.

Hedge Funds Weigh In On Sprott Physical Silver Trust

Several large investors have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC acquired a new stake in shares of Sprott Physical Silver Trust during the third quarter worth $25,000. Strategic Advocates LLC acquired a new position in shares of Sprott Physical Silver Trust in the 3rd quarter valued at about $29,000. Franklin Resources Inc. bought a new stake in shares of Sprott Physical Silver Trust during the 3rd quarter valued at about $39,000. Redwood Park Advisors LLC acquired a new stake in Sprott Physical Silver Trust during the second quarter worth about $32,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Sprott Physical Silver Trust during the second quarter worth about $32,000.

About Sprott Physical Silver Trust

Sprott Physical Silver Trust is a closed-end investment trust company, which engages in the provision of a secure, convenient, and exchange-traded investment alternative for investors interested in holding physical silver bullion without the inconvenience that is typical of a direct investment in physical silver bullion. The Trust invests and intends to continue to invest primarily in long-term holdings of unencumbered, fully allocated, physical silver bullion, and does not speculate with regard to short-term changes in silver prices.