iShares Silver Trust (NYSEARCA:SLV) Shares Gap Up to $26.97

iShares Silver Trust (NYSEARCA:SLV) gapped up before the market opened on Wednesday . The stock had previously closed at $26.97, but opened at $27.71. iShares Silver Trust shares last traded at $27.80, with a volume of 3,666,697 shares traded.

iShares Silver Trust Stock Performance

The stock has a market capitalization of $13.07 billion, a PE ratio of -7.01 and a beta of 0.43. The business has a 50 day moving average of $26.84 and a two-hundred day moving average of $23.83.

Institutional Investors Weigh In On iShares Silver Trust

Hedge funds have recently made changes to their positions in the stock. Orion Capital Management LLC purchased a new stake in iShares Silver Trust in the third quarter valued at about $70,000. Trust Co. of Vermont raised its stake in iShares Silver Trust by 88.4% in the third quarter. Trust Co. of Vermont now owns 8,525 shares of the exchange traded fund’s stock valued at $173,000 after buying an additional 4,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in iShares Silver Trust by 11.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,298,815 shares of the exchange traded fund’s stock valued at $28,288,000 after buying an additional 132,729 shares during the last quarter. International Assets Investment Management LLC raised its stake in iShares Silver Trust by 2,203.2% in the fourth quarter. International Assets Investment Management LLC now owns 236,727 shares of the exchange traded fund’s stock valued at $5,156,000 after buying an additional 226,449 shares during the last quarter. Finally, CoreCap Advisors LLC raised its stake in iShares Silver Trust by 74.5% in the fourth quarter. CoreCap Advisors LLC now owns 30,225 shares of the exchange traded fund’s stock valued at $658,000 after buying an additional 12,907 shares during the last quarter.

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.