iShares Silver Trust (NYSEARCA:SLV) Hits New 52-Week High – Should You Buy?

iShares Silver Trust (NYSEARCA:SLV)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $40.05 and last traded at $40.04, with a volume of 31966705 shares changing hands. The stock had previously closed at $39.04.

iShares Silver Trust Price Performance

The company has a market capitalization of $21.50 billion, a PE ratio of -8.51 and a beta of 0.59. The firm has a 50-day moving average of $35.69 and a 200 day moving average of $32.54.

Institutional Investors Weigh In On iShares Silver Trust

Several institutional investors have recently modified their holdings of SLV. Kingstone Capital Partners Texas LLC bought a new position in iShares Silver Trust in the second quarter valued at about $162,217,000. Ameriprise Financial Inc. lifted its holdings in iShares Silver Trust by 127.3% in the first quarter. Ameriprise Financial Inc. now owns 2,607,471 shares of the exchange traded fund’s stock valued at $80,514,000 after acquiring an additional 1,460,084 shares during the period. LPL Financial LLC lifted its holdings in iShares Silver Trust by 13.4% in the first quarter. LPL Financial LLC now owns 7,832,370 shares of the exchange traded fund’s stock valued at $242,725,000 after acquiring an additional 924,353 shares during the period. GLOBALT Investments LLC GA bought a new position in iShares Silver Trust in the second quarter valued at about $29,459,000. Finally, Guggenheim Capital LLC lifted its holdings in iShares Silver Trust by 1,557.6% in the second quarter. Guggenheim Capital LLC now owns 914,527 shares of the exchange traded fund’s stock valued at $30,006,000 after acquiring an additional 859,355 shares during the period.

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.