Elevation Point Wealth Partners LLC Raises Stock Holdings in iShares Silver Trust $SLV

Elevation Point Wealth Partners LLC raised its position in iShares Silver Trust (NYSEARCA:SLV) by 273.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 112,756 shares of the exchange traded fund’s stock after acquiring an additional 82,528 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in iShares Silver Trust were worth $7,683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sarver Vrooman Wealth Advisors bought a new stake in shares of iShares Silver Trust in the fourth quarter worth about $30,000. Intesa Sanpaolo Wealth Management bought a new stake in shares of iShares Silver Trust in the 4th quarter worth approximately $32,000. Sfam LLC bought a new stake in shares of iShares Silver Trust in the 4th quarter worth approximately $33,000. Rialto Wealth Management LLC bought a new stake in shares of iShares Silver Trust in the 4th quarter worth approximately $33,000. Finally, Redwood Park Advisors LLC increased its stake in shares of iShares Silver Trust by 106.4% during the fourth quarter. Redwood Park Advisors LLC now owns 516 shares of the exchange traded fund’s stock valued at $33,000 after buying an additional 266 shares during the period.

Key Stories Impacting iShares Silver Trust

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

• Positive Sentiment: Silver prices rose after the June nonfarm payrolls report missed expectations, weakening the dollar and reducing near-term Federal Reserve tightening bets, which tends to support silver and SLV. Gold and silver rally as NFP miss dents Fed-hike bets – Kitco AM Report
• Positive Sentiment: Analysts said official-sector demand and constrained mine supply continue to underpin silver, with technical commentary suggesting the recent correction may be ending. Gold (XAUUSD) & Silver Price Forecast: Gold Defends Triple Bottom at $3,973 as Silver Holds Channel Floor — Next Move?
• Neutral Sentiment: Silver briefly tested the $60 area while gold held key support, reinforcing that the recent pullback may be more of a consolidation than a fresh downtrend. Gold (XAUUSD) & Silver Price Forecast: Gold Holds $4,000 Triple Bottom as Silver Tests $60 Ahead of NFP — Next Leg?
• Neutral Sentiment: A record-setting 2,500-ounce silver coin drew attention to silver demand and the metal’s cultural relevance, but it is unlikely to have a direct near-term impact on SLV. America’s 250th Birthday Just Set a Silver World Record — Literally
• Negative Sentiment: Silver had been under significant pressure in June, with one report saying it was on track for its worst month since 2011, highlighting how sharply SLV had fallen before the recent bounce. Silver’s Worst Month Since 2011: Why Wall Street’s Favorite Trade Unraveled

iShares Silver Trust Stock Performance

iShares Silver Trust stock opened at $55.02 on Friday. The stock’s 50 day simple moving average is $64.89 and its two-hundred day simple moving average is $70.09. The stock has a market cap of $29.39 billion, a price-to-earnings ratio of -8.51 and a beta of 0.50. iShares Silver Trust has a fifty-two week low of $32.96 and a fifty-two week high of $109.83.

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.