abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) Hits New 52-Week High – Here’s Why

abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $62.94 and last traded at $62.5780, with a volume of 1048115 shares traded. The stock had previously closed at $60.61.

abrdn Physical Silver Shares ETF Price Performance

The firm’s 50-day moving average is $50.22 and its 200-day moving average is $41.86.

Institutional Investors Weigh In On abrdn Physical Silver Shares ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AE Wealth Management LLC grew its position in abrdn Physical Silver Shares ETF by 125.5% during the second quarter. AE Wealth Management LLC now owns 16,899 shares of the company’s stock valued at $581,000 after buying an additional 9,405 shares during the period. Janney Montgomery Scott LLC bought a new stake in abrdn Physical Silver Shares ETF in the second quarter worth about $212,000. JPMorgan Chase & Co. boosted its stake in abrdn Physical Silver Shares ETF by 3,290.6% in the second quarter. JPMorgan Chase & Co. now owns 1,739,018 shares of the company’s stock valued at $59,840,000 after acquiring an additional 1,687,728 shares during the last quarter. Geneos Wealth Management Inc. grew its position in shares of abrdn Physical Silver Shares ETF by 45.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,181 shares of the company’s stock valued at $201,000 after acquiring an additional 1,922 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of abrdn Physical Silver Shares ETF by 18.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 45,900 shares of the company’s stock worth $1,612,000 after purchasing an additional 7,311 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.