Sprott Physical Silver Trust (NYSEARCA:PSLV) Sets New 12-Month High – What’s Next?

Sprott Physical Silver Trust (NYSEARCA:PSLV) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $26.28 and last traded at $26.5360, with a volume of 391894 shares. The stock had previously closed at $25.34.

Sprott Physical Silver Trust Stock Down 5.1%

The stock’s fifty day simple moving average is $19.90 and its two-hundred day simple moving average is $16.05.

Hedge Funds Weigh In On Sprott Physical Silver Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC raised its holdings in shares of Sprott Physical Silver Trust by 23.2% during the first quarter. NewEdge Advisors LLC now owns 67,917 shares of the exchange traded fund’s stock worth $788,000 after purchasing an additional 12,810 shares during the period. Integrity Alliance LLC. purchased a new stake in shares of Sprott Physical Silver Trust in the first quarter valued at $190,000. Belpointe Asset Management LLC boosted its position in shares of Sprott Physical Silver Trust by 853.1% in the first quarter. Belpointe Asset Management LLC now owns 393,188 shares of the exchange traded fund’s stock worth $4,561,000 after buying an additional 351,934 shares during the period. Fortis Capital Advisors LLC acquired a new stake in shares of Sprott Physical Silver Trust in the first quarter worth $751,000. Finally, McAdam LLC purchased a new position in shares of Sprott Physical Silver Trust during the first quarter valued at $241,000.

Sprott Physical Silver Trust Company Profile

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.