Item 5. Market for Registrant’s Common Equity
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, 2024 and 2023:
Fiscal Year Ended December 31, 2024: Quarter Ended
High
Low
March 31, 2024
$ 24.53
$ 21.00
June 30, 2024
$ 30.92
$ 23.68
September 30, 2024
$ 30.83
$ 25.41
December 31, 2024
$ 33.30
$ 27.46
Fiscal Year Ended December 31, 2023: Quarter Ended
High
Low
March 31, 2023
$ 23.32
$ 19.22
June 30, 2023
$ 25.00
$ 21.44
September 30, 2023
$ 24.14
$ 21.26
December 31, 2023
$ 24.38
$ 20.12
The
number of outstanding Shares of the Trust as of February 26, 2025 was 49,900,000.
34
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 2024
$ 28.75
$ 25.41
September 2024
$ 30.83
$ 26.47
October 2024
$ 33.30
$ 28.79
November 2024
$ 31.63
$ 28.65
December 2024
$ 30.82
$ 27.46
January 2025
$ 30.28
$ 28.00
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, 2024 and 2023:
Month
Total number of
Shares redeemed
Average ounces of
silver per Share
January 2024
200,000
0.956
February 2024
—
—
March 2024
400,000
0.956
April 2024
—
—
May 2024
200,000
0.956
June 2024
—
—
July 2024
500,000
0.956
August 2024
150,000
0.956
September 2024
400,000
0.956
October 2024
—
—
November 2024
—
—
December 2024
5,800,000
0.956
Total
7,650,000
0.956
35
Month
Total number of
Shares redeemed
Average ounces of
silver per Share
January 2023
650,000
0.960
February 2023
1,600,000
0.960
March 2023
400,000
0.960
April 2023
250,000
0.960
May 2023
300,000
0.959
June 2023
550,000
0.959
July 2023
—
—
August 2023
1,900,000
0.959
September 2023
250,000
0.958
October 2023
200,000
0.958
November 2023
200,000
0.958
December 2023
700,000
0.958
Total
7,000,000
0.959
Item
6. [Reserved]
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.