iShares Silver Trust (NYSEARCA:SLV) Shares Gap Down – Time to Sell?

Shares of iShares Silver Trust (NYSEARCA:SLV) gapped down prior to trading on Monday . The stock had previously closed at $71.12, but opened at $65.66. iShares Silver Trust shares last traded at $65.3780, with a volume of 47,173,095 shares trading hands.

iShares Silver Trust Trading Down 8.4%

The stock has a market capitalization of $35.10 billion, a price-to-earnings ratio of -8.51 and a beta of 0.38. The firm has a 50-day moving average of $50.57 and a 200 day moving average of $41.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Center for Financial Planning Inc. purchased a new position in iShares Silver Trust in the 2nd quarter valued at about $25,000. Highline Wealth Partners LLC purchased a new stake in iShares Silver Trust during the 2nd quarter worth approximately $26,000. Addison Advisors LLC acquired a new position in shares of iShares Silver Trust in the 2nd quarter valued at approximately $31,000. Nexus Investment Management ULC boosted its stake in shares of iShares Silver Trust by 50.0% during the 3rd quarter. Nexus Investment Management ULC now owns 750 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 250 shares during the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in shares of iShares Silver Trust during the 3rd quarter valued at approximately $32,000.

iShares Silver Trust Company Profile

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.