iShares Silver Trust (NYSEARCA:SLV) Trading Up 7.7% – Should You Buy?

iShares Silver Trust (NYSEARCA:SLV)’s share price shot up 7.7% on Friday . The company traded as high as $75.85 and last traded at $76.4880. 69,693,128 shares traded hands during trading, a decline of 50% from the average session volume of 139,640,828 shares. The stock had previously closed at $71.01.

iShares Silver Trust Trading Up 7.9%

The business has a fifty day moving average of $73.89 and a 200-day moving average of $53.32. The company has a market cap of $42.18 billion, a PE ratio of -8.51 and a beta of 0.38.

Hedge Funds Weigh In On iShares Silver Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Center for Financial Planning Inc. bought a new stake in iShares Silver Trust in the second quarter valued at $25,000. Sarver Vrooman Wealth Advisors purchased a new stake in shares of iShares Silver Trust in the 4th quarter worth about $30,000. Addison Advisors LLC bought a new stake in shares of iShares Silver Trust during the 2nd quarter valued at about $31,000. Nexus Investment Management ULC increased its position in shares of iShares Silver Trust by 50.0% during the third 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 period. Finally, Raleigh Capital Management Inc. bought a new position in iShares Silver Trust in the third quarter worth about $32,000.

About iShares Silver Trust

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.