Stock Traders Buy High Volume of Dolly Varden Silver Put Options (NYSEAMERICAN:DVS)

Dolly Varden Silver Corp (NYSEAMERICAN:DVS) saw some unusual options trading activity on Thursday. Investors bought 2,827 put options on the stock. This is an increase of 198% compared to the average volume of 949 put options.

Dolly Varden Silver Trading Down 6.9%

Shares of NYSEAMERICAN DVS traded down $0.23 during midday trading on Thursday, hitting $3.02. The stock had a trading volume of 669,703 shares, compared to its average volume of 1,548,134. The firm’s 50 day moving average is $4.67. Dolly Varden Silver has a 52 week low of $2.30 and a 52 week high of $5.93. The stock has a market cap of $277.11 million and a P/E ratio of -9.39.

Hedge Funds Weigh In On Dolly Varden Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in shares of Dolly Varden Silver in the 4th quarter worth $181,000. Millennium Management LLC lifted its holdings in shares of Dolly Varden Silver by 56.2% during the fourth quarter. Millennium Management LLC now owns 115,256 shares of the company’s stock valued at $508,000 after purchasing an additional 41,446 shares in the last quarter. Cetera Investment Advisers bought a new position in Dolly Varden Silver during the 4th quarter valued at about $112,000. K2 Principal Fund L.P. bought a new position in Dolly Varden Silver during the 4th quarter valued at about $62,000. Finally, Marshall Wace LLP grew its stake in shares of Dolly Varden Silver by 76.0% in the fourth quarter. Marshall Wace LLP now owns 217,912 shares of the company’s stock worth $961,000 after acquiring an additional 94,109 shares during the period.

Dolly Varden Silver Company Profile

Dolly Varden Silver is a Canadian mineral exploration and development company focused on the discovery, definition and advancement of silver- and gold-bearing projects in northwestern British Columbia. The company targets high-grade epithermal-style silver mineralization commonly associated with significant gold credits and concentrates its exploration activities in the prolific Golden Triangle region, where multiple world-class mineral deposits and active exploration projects are located.

The company’s flagship asset is the Kitsault Valley project, which comprises the Dolly Varden and Torbrit deposits along with numerous additional exploration targets.