Independent Wealth Network Inc. lowered its position in iShares Silver Trust (NYSEARCA:SLV – Free Report) by 8.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 96,621 shares of the exchange traded fund’s stock after selling 9,157 shares during the period. iShares Silver Trust accounts for approximately 1.3% of Independent Wealth Network Inc.’s portfolio, making the stock its 14th biggest holding. Independent Wealth Network Inc.’s holdings in iShares Silver Trust were worth $5,166,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Axiom Investment Management LLC acquired a new stake in shares of iShares Silver Trust in the first quarter valued at about $26,000. Sarver Vrooman Wealth Advisors acquired a new stake in iShares Silver Trust in the 4th quarter valued at about $30,000. Intesa Sanpaolo Wealth Management purchased a new position in iShares Silver Trust in the 4th quarter worth approximately $32,000. West Branch Capital LLC purchased a new position in iShares Silver Trust during the second quarter worth approximately $27,000. Finally, Sfam LLC purchased a new position in shares of iShares Silver Trust during the 4th quarter worth $33,000.
iShares Silver Trust Price Performance
NYSEARCA:SLV opened at $59.06 on Thursday. iShares Silver Trust has a 1-year low of $33.85 and a 1-year high of $109.83. The firm has a market capitalization of $31.54 billion, a price-to-earnings ratio of -8.51 and a beta of 0.50. The company’s 50-day moving average is $55.70 and its two-hundred day moving average is $66.64.
iShares Silver Trust Profile
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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