Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Down – Here’s What Happened

Sprott Physical Silver Trust (NYSEARCA:PSLV) shares gapped down before the market opened on Thursday . The stock had previously closed at $24.44, but opened at $22.75. Sprott Physical Silver Trust shares last traded at $23.13, with a volume of 1,619,559 shares changing hands.

Sprott Physical Silver Trust Price Performance

The firm has a 50-day moving average of $27.02 and a 200-day moving average of $22.09.

Institutional Investors Weigh In On Sprott Physical Silver Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC boosted its position in Sprott Physical Silver Trust by 163.6% in the second quarter. Jane Street Group LLC now owns 5,772,074 shares of the exchange traded fund’s stock valued at $70,650,000 after buying an additional 3,582,153 shares during the last quarter. Alps Advisors Inc. lifted its stake in Sprott Physical Silver Trust by 76.5% during the 4th quarter. Alps Advisors Inc. now owns 5,387,630 shares of the exchange traded fund’s stock valued at $127,417,000 after acquiring an additional 2,334,928 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in shares of Sprott Physical Silver Trust by 29.0% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 9,814,158 shares of the exchange traded fund’s stock valued at $153,560,000 after acquiring an additional 2,203,767 shares during the last quarter. 3EDGE Asset Management LP acquired a new stake in shares of Sprott Physical Silver Trust in the third quarter worth $34,374,000. Finally, Hatch Cove Capital LLC acquired a new stake in shares of Sprott Physical Silver Trust in the fourth quarter worth $18,705,000.

About Sprott Physical Silver Trust

Sprott Physical Silver Trust is a closed-end investment trust company, which engages in the provision of a secure, convenient, and exchange-traded investment alternative for investors interested in holding physical silver bullion without the inconvenience that is typical of a direct investment in physical silver bullion. The Trust invests and intends to continue to invest primarily in long-term holdings of unencumbered, fully allocated, physical silver bullion, and does not speculate with regard to short-term changes in silver prices.