iShares Silver Trust (NYSEARCA:SLV) Shares Gap Down – Here’s What Happened

iShares Silver Trust (NYSEARCA:SLVGet Free Report) gapped down before the market opened on Friday . The stock had previously closed at $105.57, but opened at $89.33. iShares Silver Trust shares last traded at $89.5250, with a volume of 60,289,598 shares changing hands.

Key Headlines Impacting iShares Silver Trust

Here are the key news stories impacting iShares Silver Trust this week:

iShares Silver Trust Price Performance

The company has a market cap of $42.74 billion, a P/E ratio of -8.51 and a beta of 0.38. The firm’s 50-day moving average is $68.29 and its two-hundred day moving average is $49.81.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Meitav Investment House Ltd. raised its position in 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 purchasing an additional 152,600 shares during the period. Raymond James Financial Inc. increased its position in shares of iShares Silver Trust by 12.7% during the 3rd 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 last quarter. Ameriprise Financial Inc. increased its position in shares of iShares Silver Trust by 27.3% during the 3rd 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 last quarter. Commonwealth Equity Services LLC raised its holdings in iShares Silver Trust by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,023,406 shares of the exchange traded fund’s stock valued at $85,732,000 after buying an additional 26,710 shares during the period. Finally, Mainstay Capital Management LLC ADV lifted its position in iShares Silver Trust by 82.5% in the fourth quarter. Mainstay Capital Management LLC ADV now owns 1,824,479 shares of the exchange traded fund’s stock worth $117,533,000 after buying an additional 824,589 shares during the last quarter.

iShares Silver Trust Company Profile

(Get Free Report)

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.

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