Horst & Graben Wealth Management LLC has significantly expanded its investment portfolio by acquiring 22,181 shares of the abrdn Physical Silver Shares ETF (NYSEARCA:SIVR) during the third quarter of 2023. This new position is valued at approximately $987,000, according to data from Holdings Channel.com.
Institutional Investors Show Interest in Silver ETF
Horst & Graben’s purchase comes amid growing interest in silver investments, as several other institutional investors have either increased or decreased their stakes in the ETF. Notably, AE Wealth Management LLC boosted its holdings in the abrdn ETF by 125.5% in the second quarter, now owning 16,899 shares worth $581,000 after acquiring an additional 9,405 shares.
Other notable acquisitions include Janney Montgomery Scott LLC, which invested $212,000 for a new stake in the ETF during the same quarter. Meanwhile, JPMorgan Chase & Co. dramatically increased its stake by an astonishing 3,290.6%, bringing its total holdings to 1,739,018 shares valued at $59,840,000 after acquiring an additional 1,687,728 shares.
Wealth Enhancement Advisory Services LLC and Mather Group LLC have also increased their positions, with the former growing its holdings by 18.9% and the latter by 12.5%. This trend highlights a renewed confidence among institutional investors in the silver market.
Performance of abrdn Physical Silver Shares ETF
As of the latest trading session, shares of the abrdn Physical Silver Shares ETF opened at $68.49, marking a 0.6% increase. Over the past year, the ETF has seen fluctuations, reaching a low of $27.47 and a high of $68.79. The ETF has a fifty-day simple moving average of $52.58 and a two-hundred-day moving average of $43.32, indicating significant price movements.
The abrdn Physical Silver Shares ETF is designed to reflect the performance of silver bullion prices, less the operational expenses of the Trust. The ETF is sponsored by ETF Securities USA LLC, adding credibility to its management and investment strategies.
For those interested in the latest movements in silver investments, Holdings Channel.com provides comprehensive data on 13F filings and insider trades related to the abrdn Physical Silver Shares ETF, offering insights into how institutional investors are navigating the market.
