abrdn Silver ETF Trust 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities The Trust was formed on July 20, 2009 (the “Date of Inception”) following an initial deposit of silver. The Trust’s Shares have been listed on the NYSE Arca under the symbol SIVR since its initial public offering on July 24, 2009. The following tables set out the range of high and low closing prices for the Shares as reported for NYSE Arca transactions for each of the quarters during the years ended December 31, 2020 and 2019: Fiscal Year Ended December 31, 2020: Quarter Ended High Low March 31, 2020 $ 18.08 $ 11.64 June 30, 2020 $ 17.74 $ 13.52 September 30, 2020 $ 28.06 $ 17.35 December 31, 2020 $ 25.74 $ 21.88 Fiscal Year Ended December 31, 2019: Quarter Ended High Low March 31, 2019 $ 15.61 $ 14.58 June 30, 2019 $ 15.00 $ 13.95 September 30, 2019 $ 19.03 $ 14.57 December 31, 2019 $ 17.56 $ 16.08 The number of outstanding Share of the Trust as of February 24, 2021 was 38,850,000. Monthly Share Price The following table sets forth, for each of the most recent six months, the high and low closing prices of the Shares, as reported for NYSE Arca transactions. Month High Low August 2020 $ 28.06 $ 23.64 September 2020 $ 27.17 $ 21.98 October 2020 $ 24.32 $ 22.56 November 2020 $ 24.73 $ 21.88 December 2020 $ 25.74 $ 23.06 January 2021 $ 26.68 $ 23.88 30 Issuer Purchase of Equity Securities The Trust issues and redeems Shares only with Authorized Participants in exchange for silver, only in aggregations of 50,000 Shares or integral multiples thereof. A list of current Authorized Participants is available from the Sponsor or the Trustee and is included in Item 7 of this report. Although the Trust does not purchase Shares directly from its Shareholders, in connection with the redemption of Baskets, the Trust redeemed as follows during the years ended December 31, 2020 and 2019: Month Total number of Shares redeemed Average ounces of silver per Share January 2020 — — February 2020 — — March 2020 100,000 0.969 April 2020 — — May 2020 50,000 0.968 June 2020 — — July 2020 — — August 2020 500,000 0.967 September 2020 — — October 2020 400,000 0.967 November 2020 — — December 2020 — — Total 1,050,000 0.967 Month Total number of Shares redeemed Average ounces of silver per Share January 2019 — — February 2019 900,000 0.972 March 2019 — — April 2019 — — May 2019 — — June 2019 — — July 2019 — — August 2019 — — September 2019 — — October 2019 — — November 2019 — — December 2019 650,000 0.969 Total 1,550,000 0.971 31 Item 6. Selected Financial Data The following selected financial data for the reporting periods should be read in conjunction with the Trust’s financial statements and related notes and Management’s Discussion and Analysis of Financial Condition and Results of Operations . Year Ended December 31, 2020 Year Ended December 31, 2019 Year Ended December 31, 2018 Year Ended December 31, 2017 Year Ended December 31, 2016 (Amounts in 000's of US$, except for Share and per Share data) Total assets $ 863,884 $ 418,938 $ 339,822 $ 351,140 $ 311,346 Total gain/(loss) on silver $ 262,999 $ 57,508 $ (27,179 ) $ 13,260 $ 40,311 Change in net assets from operations $ 261,212 $ 56,421 $ (28,164 ) $ 12,220 $ 39,354 Weighted average number of Shares 29,257,514 22,988,630 21,487,534 20,800,822 18,986,339 Net increase / (decrease) in net assets per Share $ 8.93 $ 2.45 $ (1.31 ) $ 0.59 $ 2.07 Net cash provided by operating activities $ — $ — $ — $ — $ —