abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) Shares Gap Up – Time to Buy?

Shares of abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) gapped up prior to trading on Friday . The stock had previously closed at $68.49, but opened at $71.24. abrdn Physical Silver Shares ETF shares last traded at $71.4140, with a volume of 933,993 shares trading hands.

abrdn Physical Silver Shares ETF Price Performance

The stock has a fifty day moving average price of $52.58 and a two-hundred day moving average price of $43.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIVR. AE Wealth Management LLC increased its stake in abrdn Physical Silver Shares ETF by 125.5% during the second quarter. AE Wealth Management LLC now owns 16,899 shares of the company’s stock worth $581,000 after acquiring an additional 9,405 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of abrdn Physical Silver Shares ETF during the 2nd quarter worth about $212,000. JPMorgan Chase & Co. increased its position in abrdn Physical Silver Shares ETF by 3,290.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,739,018 shares of the company’s stock worth $59,840,000 after purchasing an additional 1,687,728 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in abrdn Physical Silver Shares ETF by 45.1% in the first quarter. Geneos Wealth Management Inc. now owns 6,181 shares of the company’s stock valued at $201,000 after buying an additional 1,922 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in abrdn Physical Silver Shares ETF by 18.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 45,900 shares of the company’s stock valued at $1,612,000 after buying an additional 7,311 shares in the last quarter.

About abrdn Physical Silver Shares ETF

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.