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, 2022 and 2021: Fiscal Year Ended December 31, 2022: Quarter Ended High Low March 31, 2022 $ 25.48 $ 21.38 June 30, 2022 $ 24.88 $ 19.47 September 30, 2022 $ 20.02 $ 17.09 December 31, 2022 $ 23.23 $ 17.56 Fiscal Year Ended December 31, 2021: Quarter Ended High Low March 31, 2021 $ 27.84 $ 23.15 June 30, 2021 $ 27.25 $ 23.98 September 30, 2021 $ 25.54 $ 20.76 December 31, 2021 $ 24.40 $ 21.15 The number of outstanding Share of the Trust as of February 23, 2023 was 47,400,000. 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 2022 $ 20.02 $ 17.30 September 2022 $ 18.98 $ 17.09 October 2022 $ 20.18 $ 17.56 November 2022 $ 21.31 $ 18.52 December 2022 $ 23.23 $ 21.32 January 2023 $ 23.32 $ 22.33 32 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, 2022 and 2021: Month Total number of Shares redeemed Average ounces of silver per Share January 2022 — — February 2022 — — March 2022 — — April 2022 — — May 2022 3,650,000 0.962 June 2022 2,050,000 0.962 July 2022 1,400,000 0.962 August 2022 800,000 0.962 September 2022 150,000 0.961 October 2022 6 00,000 0.961 November 2022 1,850,000 0.961 December 2022 750,000 0.961 Total 11,250,000 0.962 33 Month Total number of Shares redeemed Average ounces of silver per Share January 2021 500,000 0.966 February 2021 600,000 0.966 March 2021 600,000 0.966 April 2021 — — May 2021 — — June 2021 250,000 0.966 July 2021 — — August 2021 — — September 2021 — — October 2021 — — November 2021 — — December 2021 — — Total 1,950,000 0.966