Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Down – Time to Sell?

Sprott Physical Silver Trust (NYSEARCA:PSLV) gapped down before the market opened on Thursday . The stock had previously closed at $24.44, but opened at $22.75. Sprott Physical Silver Trust shares last traded at $23.13, with a volume of 1,619,559 shares trading hands.

Sprott Physical Silver Trust Stock Performance

The company’s fifty day moving average price is $26.68 and its 200-day moving average price is $22.17.

Institutional Trading of Sprott Physical Silver Trust

Several hedge funds have recently bought and sold shares of the stock. J. Derek Lewis & Associates Inc. bought a new position in shares of Sprott Physical Silver Trust in the fourth quarter worth approximately $511,000. Purpose Unlimited Inc. bought a new stake in shares of Sprott Physical Silver Trust during the 4th quarter valued at $28,000. Nalls Sherbakoff Group LLC purchased a new position in shares of Sprott Physical Silver Trust during the 4th quarter valued at $2,382,000. Corient Private Wealth LLC purchased a new stake in Sprott Physical Silver Trust in the 4th quarter worth $235,000. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Sprott Physical Silver Trust in the 4th quarter worth $143,000.

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.