Kovack Advisors Inc. Boosts Position in iShares Silver Trust (NYSEARCA:SLV)

Kovack Advisors Inc. raised its stake in shares of iShares Silver Trust (NYSEARCA:SLV) by 53.4% during the third quarter, Holdings Channel reports. The firm owned 42,318 shares of the exchange traded fund’s stock after buying an additional 14,733 shares during the quarter. Kovack Advisors Inc.’s holdings in iShares Silver Trust were worth $1,202,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SLV. Oppenheimer & Co. Inc. boosted its stake in shares of iShares Silver Trust by 32.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 197,703 shares of the exchange traded fund’s stock valued at $5,617,000 after purchasing an additional 47,905 shares in the last quarter. Simmons Bank lifted its holdings in iShares Silver Trust by 38.2% in the third quarter. Simmons Bank now owns 73,295 shares of the exchange traded fund’s stock worth $2,082,000 after buying an additional 20,273 shares during the period. Carrera Capital Advisors lifted its holdings in iShares Silver Trust by 29.1% in the third quarter. Carrera Capital Advisors now owns 424,510 shares of the exchange traded fund’s stock worth $12,060,000 after buying an additional 95,621 shares during the period. First Heartland Consultants Inc. boosted its position in iShares Silver Trust by 4.7% during the 3rd quarter. First Heartland Consultants Inc. now owns 10,667 shares of the exchange traded fund’s stock valued at $303,000 after acquiring an additional 478 shares in the last quarter. Finally, Proactive Wealth Strategies LLC purchased a new position in shares of iShares Silver Trust during the 3rd quarter worth approximately $2,266,000.

iShares Silver Trust Stock Performance

Shares of NYSEARCA:SLV opened at $27.61 on Thursday. The firm has a market capitalization of $12.96 billion, a P/E ratio of -7.01 and a beta of 0.43. The stock has a 50 day moving average price of $28.75 and a 200-day moving average price of $27.42. iShares Silver Trust has a 52-week low of $20.07 and a 52-week high of $31.80.

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.