Horst & Graben Wealth Management LLC has made a significant investment in the abrdn Physical Silver Shares ETF (NYSEARCA:SIVR), acquiring 22,181 shares valued at approximately $987,000 during the third quarter of 2023. This acquisition reflects a growing interest among institutional investors in silver-related assets, which have gained attention amid fluctuating market conditions.
Several other financial institutions have also adjusted their positions in the abrdn ETF. Notably, AE Wealth Management LLC increased its stake by 125.5% in the second quarter, now holding 16,899 shares valued at $581,000 after purchasing an additional 9,405 shares. Similarly, Janney Montgomery Scott LLC entered the market with a new investment worth $212,000 during the same period.
JPMorgan Chase & Co. reported a massive 3,290.6% increase in its holdings, now owning 1,739,018 shares valued at approximately $59.84 million after acquiring 1,687,728 additional shares. Wealth Enhancement Advisory Services LLC and Mather Group LLC also raised their stakes, with the former increasing its holdings by 18.9% to 45,900 shares valued at $1.61 million, and the latter boosting its investment by 12.5% to 7,333 shares worth $252,000.
Current Performance of SIVR
As of the latest trading session, shares of the abrdn Physical Silver Shares ETF opened at $68.49, reflecting a slight increase of 0.6%. Over the past year, the ETF has experienced a significant range, with a low of $27.47 and a high of $68.79. The ETF’s performance is tracked using a fifty-day simple moving average of $52.58 and a two-hundred-day average of $43.32.
The abrdn Physical Silver Shares ETF, sponsored by ETF Securities USA LLC, is designed to own physical silver transferred to the trust in exchange for shares. The trust aims to reflect the performance of silver bullion prices, accounting for operational expenses.
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