iShares Silver Trust (NYSEARCA:SLV) Shares Gap Up – Time to Buy?

iShares Silver Trust (NYSEARCA:SLV) shares gapped up prior to trading on Friday . The stock had previously closed at $65.22, but opened at $67.83. iShares Silver Trust shares last traded at $68.0330, with a volume of 22,860,633 shares changing hands.

iShares Silver Trust Stock Up 4.6%

The firm’s 50-day moving average price is $50.09 and its two-hundred day moving average price is $41.28. The firm has a market capitalization of $36.76 billion, a PE ratio of -8.51 and a beta of 0.38.

Institutional Investors Weigh In On iShares Silver Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in SLV. Kingstone Capital Partners Texas LLC acquired a new position in iShares Silver Trust during the second quarter worth $162,217,000. Quadrature Capital Ltd increased its holdings in shares of iShares Silver Trust by 1,691.5% during the 3rd quarter. Quadrature Capital Ltd now owns 960,353 shares of the exchange traded fund’s stock valued at $40,681,000 after acquiring an additional 906,747 shares during the last quarter. GLOBALT Investments LLC GA bought a new position in shares of iShares Silver Trust in the 2nd quarter valued at approximately $29,459,000. Guggenheim Capital LLC lifted its holdings in iShares Silver Trust by 1,557.6% in the 2nd quarter. Guggenheim Capital LLC now owns 914,527 shares of the exchange traded fund’s stock worth $30,006,000 after purchasing an additional 859,355 shares during the last quarter. Finally, Mainstay Capital Management LLC ADV lifted its holdings in iShares Silver Trust by 478.6% in the 3rd quarter. Mainstay Capital Management LLC ADV now owns 999,890 shares of the exchange traded fund’s stock worth $42,365,000 after purchasing an additional 827,089 shares during the last quarter.

About iShares Silver Trust

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.