Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Down – Should You Sell?

Shares of Sprott Physical Silver Trust (NYSEARCA:PSLV) gapped down prior to trading on Monday . The stock had previously closed at $26.04, but opened at $24.20. Sprott Physical Silver Trust shares last traded at $24.0110, with a volume of 7,695,039 shares.

Sprott Physical Silver Trust Price Performance

The firm has a fifty day moving average of $18.47 and a 200 day moving average of $15.37.

Hedge Funds Weigh In On Sprott Physical Silver Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE increased its position in Sprott Physical Silver Trust by 3.3% during the third quarter. US Bancorp DE now owns 18,920 shares of the exchange traded fund’s stock valued at $297,000 after acquiring an additional 596 shares during the last quarter. OneAscent Financial Services LLC lifted its stake in shares of Sprott Physical Silver Trust by 1.0% in the 3rd quarter. OneAscent Financial Services LLC now owns 69,676 shares of the exchange traded fund’s stock worth $1,094,000 after purchasing an additional 656 shares during the period. Carnegie Lake Advisors LLC grew its position in Sprott Physical Silver Trust by 1.2% during the third quarter. Carnegie Lake Advisors LLC now owns 62,750 shares of the exchange traded fund’s stock valued at $985,000 after buying an additional 750 shares during the period. Sandy Cove Advisors LLC increased its holdings in Sprott Physical Silver Trust by 4.9% during the third quarter. Sandy Cove Advisors LLC now owns 17,000 shares of the exchange traded fund’s stock valued at $267,000 after buying an additional 800 shares during the last quarter. Finally, Destiny Wealth Partners LLC raised its position in Sprott Physical Silver Trust by 2.9% in the second quarter. Destiny Wealth Partners LLC now owns 32,085 shares of the exchange traded fund’s stock worth $393,000 after acquiring an additional 904 shares during the period.

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.