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, 2023 and 2022: 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 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 The number of outstanding Shares of the Trust as of February 26, 2024 was 47,050,000. 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 2023 $ 23.73 $ 21.49 September 2023 $ 23.16 $ 21.26 October 2023 $ 22.36 $ 20.12 November 2023 $ 24.18 $ 21.27 December 2023 $ 24.38 $ 21.80 January 2024 $ 22.64 $ 21.13 34 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, 2023 and 2022: 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 35 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 600,000 0.961 November 2022 1,850,000 0.961 December 2022 750,000 0.961 Total 11,250,000 0.962