iShares Silver Trust (NYSEARCA:SLV) Trading 5.8% Higher – Should You Buy?

iShares Silver Trust (NYSEARCA:SLVGet Free Report) shot up 5.8% during mid-day trading on Friday . The company traded as high as $85.00 and last traded at $85.0910. 29,278,479 shares were traded during mid-day trading, a decline of 77% from the average session volume of 129,705,984 shares. The stock had previously closed at $80.45.

More iShares Silver Trust News

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

iShares Silver Trust Stock Up 5.6%

The firm has a 50-day moving average price of $76.48 and a 200 day moving average price of $55.38. The firm has a market capitalization of $46.79 billion, a PE ratio of -8.51 and a beta of 0.38.

Hedge Funds Weigh In On iShares Silver Trust

Several institutional investors have recently bought and sold shares of SLV. Raymond James Financial Inc. boosted its stake in shares of iShares Silver Trust by 12.7% in 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 purchasing an additional 313,816 shares during the period. Ameriprise Financial Inc. lifted its holdings in iShares Silver Trust by 27.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,676,218 shares of the exchange traded fund’s stock worth $113,391,000 after buying an additional 573,660 shares in the last quarter. Bank of Montreal Can boosted its position in iShares Silver Trust by 505.8% in the 4th quarter. Bank of Montreal Can now owns 2,218,970 shares of the exchange traded fund’s stock valued at $142,946,000 after buying an additional 1,852,688 shares during the period. Tableaux LLC purchased a new position in iShares Silver Trust in the 4th quarter valued at approximately $133,233,000. Finally, Commonwealth Equity Services LLC grew its stake in shares of iShares Silver Trust by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 2,023,406 shares of the exchange traded fund’s stock worth $85,732,000 after acquiring an additional 26,710 shares in the last quarter.

About iShares Silver Trust

(Get Free Report)

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.

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