Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Down – Here’s Why

Sprott Physical Silver Trust (NYSEARCA:PSLV) shares gapped down prior to trading on Thursday . The stock had previously closed at $23.35, but opened at $22.23. Sprott Physical Silver Trust shares last traded at $22.4790, with a volume of 2,414,138 shares changing hands.

Sprott Physical Silver Trust Stock Down 5.8%

The stock has a 50 day simple moving average of $27.72 and a two-hundred day simple moving average of $21.78.

Institutional Investors Weigh In On Sprott Physical Silver Trust

Several institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors raised its stake in Sprott Physical Silver Trust by 38.6% during the 3rd quarter. World Investment Advisors now owns 771,495 shares of the exchange traded fund’s stock worth $12,112,000 after acquiring an additional 214,997 shares in the last quarter. Commonwealth Equity Services LLC increased its position in Sprott Physical Silver Trust by 8.0% during the third quarter. Commonwealth Equity Services LLC now owns 513,523 shares of the exchange traded fund’s stock worth $8,062,000 after buying an additional 38,084 shares during the period. D.A. Davidson & CO. purchased a new position in shares of Sprott Physical Silver Trust during the third quarter worth approximately $795,000. CreativeOne Wealth LLC raised its position in Sprott Physical Silver Trust by 157.2% in the 2nd quarter. CreativeOne Wealth LLC now owns 66,928 shares of the exchange traded fund’s stock valued at $819,000 after purchasing an additional 40,908 shares during the last quarter. Finally, Alps Advisors Inc. increased its stake in Sprott Physical Silver Trust by 118.7% in the third quarter. Alps Advisors Inc. now owns 3,052,702 shares of the exchange traded fund’s stock valued at $47,927,000 after purchasing an additional 1,657,153 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.