abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) Stock Falls 3% – What’s Next?

abrdn Physical Silver Shares ETF (NYSEARCA:SIVR)’s share price were down 3% during mid-day trading on Wednesday. The company traded as low as $56.37 and last traded at $56.60. Approximately 4,731,371 shares were traded during trading, an increase of 79% from the average session volume of 2,645,519 shares. The stock had previously closed at $58.33.

abrdn Physical Silver Shares ETF Price Performance

The stock’s 50-day moving average price is $61.03 and its 200 day moving average price is $64.34.

Hedge Funds Weigh In On abrdn Physical Silver Shares ETF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIVR. NorthRock Partners LLC purchased a new position in shares of abrdn Physical Silver Shares ETF during the 2nd quarter worth $238,000. Integrated Wealth Concepts LLC grew its holdings in shares of abrdn Physical Silver Shares ETF by 38.3% in the second quarter. Integrated Wealth Concepts LLC now owns 14,926 shares of the company’s stock valued at $839,000 after purchasing an additional 4,133 shares during the period. NewEdge Advisors LLC grew its holdings in shares of abrdn Physical Silver Shares ETF by 79.9% in the second quarter. NewEdge Advisors LLC now owns 289,887 shares of the company’s stock valued at $16,297,000 after purchasing an additional 128,754 shares during the period. IFP Advisors Inc increased its position in abrdn Physical Silver Shares ETF by 3,746.3% during the second quarter. IFP Advisors Inc now owns 9,808 shares of the company’s stock worth $551,000 after purchasing an additional 9,553 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in abrdn Physical Silver Shares ETF by 5.7% during the second quarter. Baird Financial Group Inc. now owns 31,586 shares of the company’s stock worth $1,776,000 after purchasing an additional 1,714 shares during the last quarter.

abrdn Physical Silver Shares ETF Company Profile

ETFS Silver Trust (the Trust) is formed to own silver transferred to the Trust in exchange for shares issued by the Trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of silver bullion, less the expenses of the Trust’s operations. ETFS Physical Silver Shares (the Shares) are issued by ETFS Silver Trust. The sponsor of the Trust is ETF Securities USA LLC.