Horizon Wealth Management LLC Takes Position in iShares Silver Trust $SLV

Horizon Wealth Management LLC bought a new position in shares of iShares Silver Trust (NYSEARCA:SLV) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 63,395 shares of the exchange traded fund’s stock, valued at approximately $4,320,000.

A number of other hedge funds have also made changes to their positions in the company. RKL Wealth Management LLC lifted its stake in iShares Silver Trust by 14.9% in the 1st quarter. RKL Wealth Management LLC now owns 7,709 shares of the exchange traded fund’s stock valued at $525,000 after buying an additional 998 shares in the last quarter. Tcfg Wealth Management LLC increased its position in iShares Silver Trust by 7.4% during the first quarter. Tcfg Wealth Management LLC now owns 4,024 shares of the exchange traded fund’s stock worth $274,000 after buying an additional 279 shares in the last quarter. American Institute for Advanced Investment Management LLP raised its holdings in shares of iShares Silver Trust by 31.0% in the first quarter. American Institute for Advanced Investment Management LLP now owns 13,104 shares of the exchange traded fund’s stock worth $893,000 after acquiring an additional 3,100 shares during the last quarter. Key Financial Inc lifted its position in shares of iShares Silver Trust by 2,478.3% in the first quarter. Key Financial Inc now owns 1,779 shares of the exchange traded fund’s stock valued at $121,000 after acquiring an additional 1,710 shares in the last quarter. Finally, Ellenbecker Investment Group purchased a new stake in shares of iShares Silver Trust in the first quarter valued at $215,000.

iShares Silver Trust News Roundup

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

• Positive Sentiment: Silver prices are rebounding from recent lows, with technical analysts saying the correction may be nearing an end and that silver is holding important support levels. Silver Accumulation Time As The Correction Comes To An End (Technical Analysis)
• Positive Sentiment: Kitco reported that spot gold and silver moved higher as traders looked ahead to the June employment report and covered short positions near support. Gold, silver rise as NFP risk keeps dollar, yields bid – Kitco PM Report
• Positive Sentiment: Several market outlook pieces pointed to constrained mine supply, official-sector demand, and industrial usage as longer-term support for silver prices. Gold (XAUUSD) & Silver Price Forecast: Gold Defends Triple Bottom at $3,973 as Silver Holds Channel Floor — Next Move?
• Neutral Sentiment: Silver’s sharp June decline is still a concern for investors, with one report calling it the metal’s worst month since 2011 and noting that Wall Street’s popular trade had unraveled. Silver’s worst month since 2011: Why Wall Street’s favorite trade unraveled
• Negative Sentiment: Higher U.S. Treasury yields, a firmer dollar, and rising Fed rate-hike risk are still capping the rebound in precious metals, which could limit near-term upside for SLV. Silver firms while gold fades as Fed risk caps rebound – Kitco PM Report

iShares Silver Trust Trading Up 0.2%

Shares of SLV stock opened at $53.58 on Thursday. The firm has a 50-day moving average price of $65.16 and a 200 day moving average price of $70.10. iShares Silver Trust has a twelve month low of $32.93 and a twelve month high of $109.83. The company has a market capitalization of $28.62 billion, a price-to-earnings ratio of -8.51 and a beta of 0.50.

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.