Granite Bay Wealth Management LLC Decreases Stock Holdings in iShares Silver Trust $SLV

Granite Bay Wealth Management LLC cut its holdings in shares of iShares Silver Trust (NYSEARCA:SLV) by 19.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 115,409 shares of the exchange traded fund’s stock after selling 28,309 shares during the period. iShares Silver Trust accounts for approximately 1.7% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Granite Bay Wealth Management LLC’s holdings in iShares Silver Trust were worth $7,857,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in iShares Silver Trust by 9.2% during the fourth quarter. Brighton Jones LLC now owns 18,858 shares of the exchange traded fund’s stock worth $497,000 after acquiring an additional 1,595 shares during the period. Bison Wealth LLC acquired a new position in iShares Silver Trust in the fourth quarter valued at approximately $238,000. Capstone Wealth Management Group LLC acquired a new position in iShares Silver Trust in the first quarter valued at approximately $443,000. Schnieders Capital Management LLC. boosted its position in iShares Silver Trust by 15.0% in the 2nd quarter. Schnieders Capital Management LLC. now owns 9,975 shares of the exchange traded fund’s stock worth $327,000 after purchasing an additional 1,300 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in iShares Silver Trust in the 2nd quarter worth approximately $886,000.

iShares Silver Trust Price Performance

Shares of NYSEARCA SLV opened at $53.95 on Friday. The firm’s 50 day simple moving average is $63.28 and its 200-day simple moving average is $69.82. The stock has a market capitalization of $28.81 billion, a price-to-earnings ratio of -8.51 and a beta of 0.49. iShares Silver Trust has a 12 month low of $33.10 and a 12 month high of $109.83.

iShares Silver Trust 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.