iShares Silver Trust (NYSEARCA:SLV) Shares Gap Down – Here’s Why

Shares of iShares Silver Trust (NYSEARCA:SLV) gapped down prior to trading on Thursday . The stock had previously closed at $84.56, but opened at $80.74. iShares Silver Trust shares last traded at $82.1330, with a volume of 35,108,974 shares.

iShares Silver Trust Price Performance

The company has a market cap of $47.72 billion, a PE ratio of -8.51 and a beta of 0.38. The business has a 50-day moving average of $57.68 and a 200 day moving average of $45.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC bought a new stake in iShares Silver Trust in the 2nd quarter worth approximately $162,217,000. Quadrature Capital Ltd raised its stake in iShares Silver Trust by 1,691.5% during the third quarter. Quadrature Capital Ltd now owns 960,353 shares of the exchange traded fund’s stock valued at $40,681,000 after purchasing an additional 906,747 shares in the last quarter. GLOBALT Investments LLC GA bought a new position in iShares Silver Trust during the second quarter valued at $29,459,000. Guggenheim Capital LLC grew its stake in shares of iShares Silver Trust by 1,557.6% in the 2nd quarter. Guggenheim Capital LLC now owns 914,527 shares of the exchange traded fund’s stock worth $30,006,000 after buying an additional 859,355 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV raised its position in shares of iShares Silver Trust by 478.6% during the 3rd quarter. Mainstay Capital Management LLC ADV now owns 999,890 shares of the exchange traded fund’s stock valued at $42,365,000 after buying an additional 827,089 shares in the last quarter.

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.