iShares Silver Trust (NYSEARCA:SLV) Hits New 52-Week High – Still a Buy?

iShares Silver Trust (NYSEARCA:SLVGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $59.97 and last traded at $59.6010, with a volume of 23241216 shares trading hands. The stock had previously closed at $57.73.

Key Stores Impacting iShares Silver Trust

Here are the key news stories impacting iShares Silver Trust this week:

iShares Silver Trust Price Performance

The firm has a market cap of $32.83 billion, a price-to-earnings ratio of -8.51 and a beta of 0.38. The business’s 50-day moving average price is $48.45 and its two-hundred day moving average price is $40.17.

Institutional Investors Weigh In On iShares Silver Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in iShares Silver Trust by 9.2% in the fourth quarter. Brighton Jones LLC now owns 18,858 shares of the exchange traded fund’s stock valued at $497,000 after acquiring an additional 1,595 shares during the last quarter. Bison Wealth LLC purchased a new position in shares of iShares Silver Trust in the 4th quarter worth about $238,000. Capstone Wealth Management Group LLC acquired a new position in shares of iShares Silver Trust in the 1st quarter valued at about $443,000. Deutsche Bank AG acquired a new position in shares of iShares Silver Trust in the 1st quarter valued at about $87,000. Finally, Kovitz Investment Group Partners LLC grew its holdings in shares of iShares Silver Trust by 11.5% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 15,578 shares of the exchange traded fund’s stock worth $483,000 after purchasing an additional 1,608 shares during the period.

iShares Silver Trust Company Profile

(Get Free Report)

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.

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