iShares Silver Trust (NYSEARCA:SLV) Sets New 52-Week High – Should You Buy?

iShares Silver Trust (NYSEARCA:SLV)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $71.82 and last traded at $72.7450, with a volume of 9122565 shares trading hands. The stock had previously closed at $69.08.

iShares Silver Trust Stock Up 5.1%

The stock has a market capitalization of $41.97 billion, a PE ratio of -8.51 and a beta of 0.38. The stock’s 50 day moving average price is $53.22 and its 200-day moving average price is $43.06.

Hedge Funds Weigh In On iShares Silver Trust

A number of hedge funds have recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC purchased a new position in iShares Silver Trust in the 2nd quarter worth approximately $162,217,000. Meitav Investment House Ltd. boosted its position in shares of iShares Silver Trust by 5.4% during the second quarter. Meitav Investment House Ltd. now owns 2,972,600 shares of the exchange traded fund’s stock worth $97,589,000 after acquiring an additional 152,600 shares during the last quarter. Raymond James Financial Inc. grew its stake in iShares Silver Trust by 12.7% during the third quarter. Raymond James Financial Inc. now owns 2,786,172 shares of the exchange traded fund’s stock valued at $118,050,000 after acquiring an additional 313,816 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in iShares Silver Trust by 27.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,676,218 shares of the exchange traded fund’s stock valued at $113,391,000 after acquiring an additional 573,660 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in iShares Silver Trust by 1.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,023,406 shares of the exchange traded fund’s stock worth $85,732,000 after purchasing an additional 26,710 shares in 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.