Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Up – Time to Buy?

Sprott Physical Silver Trust (NYSEARCA:PSLV) gapped up prior to trading on Wednesday . The stock had previously closed at $28.75, but opened at $30.37. Sprott Physical Silver Trust shares last traded at $29.95, with a volume of 6,521,771 shares changing hands.

Sprott Physical Silver Trust Stock Up 4.2%

The firm has a 50 day simple moving average of $20.80 and a two-hundred day simple moving average of $16.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Highline Wealth Partners LLC bought a new stake in Sprott Physical Silver Trust in the third quarter valued at approximately $25,000. Strategic Advocates LLC acquired a new position in shares of Sprott Physical Silver Trust in the 3rd quarter valued at $29,000. Franklin Resources Inc. bought a new stake in shares of Sprott Physical Silver Trust in the 3rd quarter valued at $39,000. Redwood Park Advisors LLC bought a new stake in shares of Sprott Physical Silver Trust in the 2nd quarter valued at $32,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in Sprott Physical Silver Trust during the 2nd quarter worth $32,000.

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.