McAlvany Wealth Management LLC Takes $22.90 Million Position in iShares Silver Trust $SLV

McAlvany Wealth Management LLC bought a new stake in shares of iShares Silver Trust (NYSEARCA:SLV) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 355,505 shares of the exchange traded fund’s stock, valued at approximately $22,902,000. iShares Silver Trust comprises approximately 17.6% of McAlvany Wealth Management LLC’s investment portfolio, making the stock its largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in iShares Silver Trust by 9.2% in the fourth quarter. Brighton Jones LLC now owns 18,858 shares of the exchange traded fund’s stock valued at $497,000 after acquiring an additional 1,595 shares in the last quarter. Bison Wealth LLC bought a new position in iShares Silver Trust in the 4th quarter worth $238,000. Capstone Wealth Management Group LLC bought a new position in iShares Silver Trust in the 1st quarter worth $443,000. Schnieders Capital Management LLC. raised its holdings 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 shares of iShares Silver Trust in the 2nd quarter worth about $886,000.

iShares Silver Trust Stock Performance

Shares of SLV opened at $59.51 on Friday. The firm’s 50-day moving average price is $67.85 and its 200-day moving average price is $69.98. The firm has a market capitalization of $33.68 billion, a price-to-earnings ratio of -8.51 and a beta of 0.45. iShares Silver Trust has a 1-year low of $32.06 and a 1-year 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.