iShares Silver Trust (NYSEARCA:SLV) Share Price Pass Below 200-Day Moving Average – Here’s Why

iShares Silver Trust (NYSEARCA:SLV) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.65 and traded as low as $26.24. iShares Silver Trust shares last traded at $26.43, with a volume of 18,837,660 shares changing hands.

iShares Silver Trust Price Performance

The company has a fifty day moving average price of $28.52 and a 200 day moving average price of $27.65. The company has a market cap of $12.40 billion, a PE ratio of -7.01 and a beta of 0.43.

Hedge Funds Weigh In On iShares Silver Trust

A number of institutional investors have recently made changes to their positions in SLV. Vontobel Holding Ltd. raised its holdings in shares of iShares Silver Trust by 106.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 61,402 shares of the exchange traded fund’s stock valued at $1,744,000 after buying an additional 31,601 shares in the last quarter. ROI Financial Advisors LLC grew its position in iShares Silver Trust by 64.0% during the third quarter. ROI Financial Advisors LLC now owns 27,239 shares of the exchange traded fund’s stock valued at $774,000 after acquiring an additional 10,626 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of iShares Silver Trust by 5.7% during the third quarter. Rockefeller Capital Management L.P. now owns 136,521 shares of the exchange traded fund’s stock worth $3,879,000 after acquiring an additional 7,388 shares in the last quarter. FMR LLC boosted its stake in shares of iShares Silver Trust by 46.4% in the 3rd quarter. FMR LLC now owns 16,201 shares of the exchange traded fund’s stock valued at $460,000 after purchasing an additional 5,135 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of iShares Silver Trust by 2.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 196,237 shares of the exchange traded fund’s stock valued at $5,575,000 after purchasing an additional 3,901 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.