abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) Reaches New 1-Year High – Time to Buy?

Shares of abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $52.37 and last traded at $52.43, with a volume of 118051 shares trading hands. The stock had previously closed at $50.79.

abrdn Physical Silver Shares ETF Price Performance

The stock’s 50 day simple moving average is $46.75 and its two-hundred day simple moving average is $39.39.

Hedge Funds Weigh In On abrdn Physical Silver Shares ETF

A number of large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of abrdn Physical Silver Shares ETF by 243.1% during the third quarter. JPMorgan Chase & Co. now owns 5,966,410 shares of the company’s stock worth $265,386,000 after acquiring an additional 4,227,392 shares during the period. Bank of America Corp DE lifted its holdings in abrdn Physical Silver Shares ETF by 55.1% during the 3rd quarter. Bank of America Corp DE now owns 1,627,112 shares of the company’s stock worth $72,374,000 after purchasing an additional 578,217 shares during the last quarter. Quadrature Capital Ltd boosted its stake in abrdn Physical Silver Shares ETF by 250.9% in the 2nd quarter. Quadrature Capital Ltd now owns 506,714 shares of the company’s stock valued at $17,431,000 after purchasing an additional 362,296 shares during the period. McIlrath & Eck LLC acquired a new position in abrdn Physical Silver Shares ETF in the 2nd quarter valued at $12,149,000. Finally, Vestmark Advisory Solutions Inc. bought a new position in abrdn Physical Silver Shares ETF during the 3rd quarter worth $11,193,000.

About abrdn Physical Silver Shares ETF

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.