iShares Silver Trust (NYSEARCA:SLV) Sets New 1-Year Low – Time to Sell?

iShares Silver Trust (NYSEARCA:SLV)’s stock price hit a new 52-week low on Friday. The stock traded as low as $43.97 and last traded at $44.1130, with a volume of 14,271,217 shares. The stock had previously closed at $45.12.

iShares Silver Trust Trading Down 2.2%

The firm’s fifty day moving average price is $53.20 and its 200-day moving average price is $62.59. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of -8.51 and a beta of 0.53.

Institutional Investors Weigh In On iShares Silver Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its stake in iShares Silver Trust by 7.5% in the second quarter. HighTower Advisors LLC now owns 1,165,149 shares of the exchange traded fund’s stock valued at $62,300,000 after acquiring an additional 81,257 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of iShares Silver Trust by 1.3% during the second quarter. NewEdge Advisors LLC now owns 467,435 shares of the exchange traded fund’s stock worth $24,994,000 after purchasing an additional 6,163 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of iShares Silver Trust by 8.6% during the third quarter. Kestra Advisory Services LLC now owns 435,831 shares of the exchange traded fund’s stock worth $23,757,000 after purchasing an additional 34,451 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of iShares Silver Trust by 17.9% during the first quarter. Wealthfront Advisers LLC now owns 375,833 shares of the exchange traded fund’s stock worth $25,609,000 after purchasing an additional 57,070 shares in the last quarter. Finally, New Harbor Financial Group LLC lifted its holdings in shares of iShares Silver Trust by 5.1% in the 3rd quarter. New Harbor Financial Group LLC now owns 373,453 shares of the exchange traded fund’s stock valued at $20,357,000 after purchasing an additional 18,239 shares during the last quarter.

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.