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Silver ETF (SLV) Hits New 52-Week High

ByZacks Investment Research
Published 08/27/2019, 09:10 PM
Updated 10/23/2024, 11:45 AM
SLV
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For investors seeking momentum, iShares Silver Trust (NYSE:SLV) SLV is probably on radar now. The fund just hit a 52-week high, and is up 29.9% from its 52-week low price of $13.11 per share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:

SLV in Focus

The fund offers exposure to the day-to-day movement of the price of silver bullion. It is an ultra-popular silver ETF with AUM of over $6.6 billion and heavy volume of nearly 12 million shares a day. It charges 50 bps in fees per year from investors (see: all the Precious Metal ETFs here).

Why the Move?

The precious metal space has been an area to watch lately given a round of easy money policies that helped stoke fresh appetite for the perceived safety of precious metals. Though escalation in trade tensions and slowdown in industrial demand have been weighing on the white metal, geopolitical tension and a decline in stock market are driving demand for silver as a store of wealth.

More Gains Ahead?

Currently, SLV has a Zacks ETF Rank #3 (Hold) with a Medium risk outlook. Therefore, it is hard to get a handle on its future returns one way or the other. However, it seems that SLV might remain strong given a higher weighted alpha of 31.4 and 20-day volatility of 22.35%. As a result, there is definitely still some promise for investors, who want to ride on this surging ETF a little further.

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iShares Silver Trust (SLV): ETF Research Reports

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Zacks Investment Research

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