Eaton Financial Holdings Company LLC bought a new position in shares of iShares Silver Trust (NYSEARCA:SLV – Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 42,810 shares of the exchange traded fund’s stock, valued at approximately $2,758,000.
Other large investors also recently modified their holdings of the company. Rialto Wealth Management LLC acquired a new position in shares of iShares Silver Trust during the fourth quarter worth approximately $33,000. BOK Financial Private Wealth Inc. acquired a new position in shares of iShares Silver Trust during the fourth quarter worth approximately $34,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of iShares Silver Trust by 274.2% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 580 shares of the exchange traded fund’s stock worth $37,000 after purchasing an additional 425 shares in the last quarter. Bangor Savings Bank acquired a new position in shares of iShares Silver Trust during the fourth quarter worth approximately $38,000. Finally, American National Bank & Trust lifted its position in shares of iShares Silver Trust by 96.7% during the fourth quarter. American National Bank & Trust now owns 590 shares of the exchange traded fund’s stock worth $38,000 after purchasing an additional 290 shares in the last quarter.
iShares Silver Trust News Roundup
Here are the key news stories impacting iShares Silver Trust this week:
- Positive Sentiment: Bank of America said silver could still reach $100 an ounce this year, which reinforces the longer-term upside case for the metal even though it warned that momentum may not last. Silver can reach $100 an ounce this year, but the momentum won’t last – Bank of America
- Positive Sentiment: Industrial demand remains a supporting factor, with Reuters noting that higher silver prices are adding costs for U.S. solar customers, highlighting continued usage demand from the solar sector. Aluminium price spike from Mideast war fans costs for US solar industry
- Positive Sentiment: Royal Mint bullion sales were reported at record levels in the first quarter, underscoring strong underlying demand for silver and other precious metals despite near-term price volatility. Royal Mint sees record gold, silver bullion sales between January and March
iShares Silver Trust Trading Down 3.2%
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. 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.
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