NewEdge Wealth LLC Sells 31,826 Shares of iShares Silver Trust $SLV

NewEdge Wealth LLC cut its position in iShares Silver Trust (NYSEARCA:SLV) by 60.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 20,400 shares of the exchange traded fund’s stock after selling 31,826 shares during the quarter. NewEdge Wealth LLC’s holdings in iShares Silver Trust were worth $1,390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. FARMERS & MERCHANTS TRUST Co OF LONG BEACH purchased a new stake in shares of iShares Silver Trust during the first quarter valued at $2,762,000. Ameliora Wealth Management Ltd. raised its position in iShares Silver Trust by 15.4% in the 4th quarter. Ameliora Wealth Management Ltd. now owns 86,670 shares of the exchange traded fund’s stock worth $5,583,000 after buying an additional 11,563 shares during the last quarter. Prime Capital Investment Advisors LLC raised its position in iShares Silver Trust by 33.1% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 37,770 shares of the exchange traded fund’s stock worth $2,433,000 after buying an additional 9,391 shares during the last quarter. Finer Wealth Management Inc. purchased a new position in iShares Silver Trust in the 4th quarter worth about $709,000. Finally, Sound Income Strategies LLC lifted its stake in iShares Silver Trust by 268.2% during the 4th quarter. Sound Income Strategies LLC now owns 25,112 shares of the exchange traded fund’s stock valued at $1,618,000 after acquiring an additional 18,291 shares during the period.

iShares Silver Trust Stock Performance

SLV opened at $52.59 on Monday. The company’s 50-day simple moving average is $59.15 and its two-hundred day simple moving average is $68.86. iShares Silver Trust has a 52-week low of $33.10 and a 52-week high of $109.83. The stock has a market capitalization of $28.09 billion, a P/E ratio of -8.51 and a beta of 0.49.

iShares Silver Trust Profile

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.