Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Up – Still a Buy?

Sprott Physical Silver Trust (NYSEARCA:PSLV)’s share price gapped up prior to trading on Friday . The stock had previously closed at $31.30, but opened at $32.42. Sprott Physical Silver Trust shares last traded at $32.3620, with a volume of 3,500,792 shares trading hands.

Sprott Physical Silver Trust Stock Up 4.6%

The business’s fifty day moving average price is $22.72 and its 200 day moving average price is $17.32.

Institutional Trading of Sprott Physical Silver Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Jupiter Asset Management Ltd. increased its holdings in shares of Sprott Physical Silver Trust by 29.0% during the third quarter. Jupiter Asset Management Ltd. now owns 9,814,158 shares of the exchange traded fund’s stock worth $153,560,000 after buying an additional 2,203,767 shares in the last quarter. Jane Street Group LLC increased its stake in shares of Sprott Physical Silver Trust by 163.6% in the second quarter. Jane Street Group LLC now owns 5,772,074 shares of the exchange traded fund’s stock valued at $70,650,000 after buying an additional 3,582,153 shares during the period. Alps Advisors Inc. raised its holdings in Sprott Physical Silver Trust by 118.7% in the 3rd quarter. Alps Advisors Inc. now owns 3,052,702 shares of the exchange traded fund’s stock valued at $47,927,000 after buying an additional 1,657,153 shares during the last quarter. Capital Wealth Alliance LLC raised its holdings in Sprott Physical Silver Trust by 0.5% in the 3rd quarter. Capital Wealth Alliance LLC now owns 2,462,498 shares of the exchange traded fund’s stock valued at $38,662,000 after buying an additional 12,196 shares during the last quarter. Finally, 3EDGE Asset Management LP acquired a new stake in Sprott Physical Silver Trust during the 3rd quarter worth approximately $34,374,000.

Sprott Physical Silver Trust Company Profile

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.