Sprott Physical Silver Trust (NYSEARCA:PSLV) Shares Gap Down – Here’s Why

Sprott Physical Silver Trust (NYSEARCA:PSLV)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $27.85, but opened at $24.24. Sprott Physical Silver Trust shares last traded at $23.8140, with a volume of 9,512,263 shares.

Sprott Physical Silver Trust Stock Down 11.2%

The firm’s fifty day simple moving average is $25.31 and its 200 day simple moving average is $18.52.

Hedge Funds Weigh In On Sprott Physical Silver Trust

Several hedge funds have recently bought and sold shares of PSLV. Commonwealth Equity Services LLC grew its holdings in Sprott Physical Silver Trust by 8.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 513,523 shares of the exchange traded fund’s stock worth $8,062,000 after acquiring an additional 38,084 shares during the period. World Investment Advisors grew its position in shares of Sprott Physical Silver Trust by 38.6% during the 3rd quarter. World Investment Advisors now owns 771,495 shares of the exchange traded fund’s stock worth $12,112,000 after purchasing an additional 214,997 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Sprott Physical Silver Trust during the third quarter worth approximately $795,000. Accordant Advisory Group Inc raised its position in shares of Sprott Physical Silver Trust by 3.6% in the second quarter. Accordant Advisory Group Inc now owns 530,399 shares of the exchange traded fund’s stock valued at $6,492,000 after buying an additional 18,410 shares in the last quarter. Finally, Beaumont Financial Advisors LLC boosted its stake in shares of Sprott Physical Silver Trust by 26.7% in the third quarter. Beaumont Financial Advisors LLC now owns 108,753 shares of the exchange traded fund’s stock valued at $1,707,000 after buying an additional 22,886 shares during the period.

About Sprott Physical Silver Trust

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.