iShares Silver Trust (NYSEARCA:SLV) Shares Gap Down – Here’s What Happened

Shares of iShares Silver Trust (NYSEARCA:SLV) gapped down before the market opened on Monday . The stock had previously closed at $71.12, but opened at $65.66. iShares Silver Trust shares last traded at $65.3780, with a volume of 47,173,095 shares.

iShares Silver Trust Price Performance

The firm’s 50-day moving average is $50.57 and its 200 day moving average is $41.66. The stock has a market cap of $35.10 billion, a price-to-earnings ratio of -8.51 and a beta of 0.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of iShares Silver Trust by 9.2% in the 4th quarter. Brighton Jones LLC now owns 18,858 shares of the exchange traded fund’s stock valued at $497,000 after purchasing an additional 1,595 shares in the last quarter. Bison Wealth LLC acquired a new position in iShares Silver Trust during the fourth quarter valued at approximately $238,000. Capstone Wealth Management Group LLC purchased a new position in shares of iShares Silver Trust in the 1st quarter valued at $443,000. Deutsche Bank AG purchased a new stake in iShares Silver Trust during the 1st quarter worth $87,000. Finally, Walleye Capital LLC purchased a new position in iShares Silver Trust in the first quarter valued at about $564,000.

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.