Item 8. Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data (Unaudited)
Quarterly Income Statements
Year Ended December 31, 2023
Three months ended
Year ended
(Amounts in 000’s of US$, except for Share and per Share data)
March 31
June 30
September 30
December 31
December 31
EXPENSES
Sponsor’s Fee
$ 1,192
$ 1,233
$ 1,253
$ 1,193
$ 4,871
Less: Waiver of Sponsor’s Fee (Note 2.7)
(397 )
(411 )
(418 )
(398 )
(1,624 )
Total expenses
795
822
835
$ 795
$ 3,247
Net investment loss
(795 )
(822 )
(835 )
(795 )
(3,247 )
REALIZED AND UNREALIZED GAINS / (LOSSES)
Realized gain on silver transferred to pay expenses
61
73
69
49
252
Realized gain on silver distributed for the redemption of Shares
2,811
2,404
2,741
2,695
10,651
Change in unrealized gain and loss on investment in silver
(5,448 )
(71,724 )
25,735
30,399
(21,038 )
Total gain / (loss) on investment in sliver
(2,576 )
(69,247 )
28,545
33,143
(10,135 )
Change in net assets from operations
$ (3,371 )
$ (70,069 )
$ 27,710
$ 32,348
$ (13,382 )
Net increase / (decrease) in net assets per Share
$ (0.07 )
$ (1.42 )
$ 0.57
$ 0.69
$ (0.28 )
Weighted average number of Shares
48,033,889
49,348,352
48,246,196
46,977,174
48,148,767
40
Year Ended December 31, 2022
Three months ended
Year ended
(Amounts in 000’s of US$, except for Share and per Share data)
March 31
June 30
September 30
December 31
December 31
EXPENSES
Sponsor’s Fee
$ 1,168
$ 1,265
$ 1,049
$ 1,110
$ 4,592
Less: Waiver of Sponsor’s Fee (Note 2.7)
(390 )
(421 )
(350 )
(370 )
(1,531 )
Total expenses
778
844
699
740
3,061
Net investment loss
(778 )
(844 )
(699 )
(740 )
(3,061 )
REALIZED AND UNREALIZED GAINS / (LOSSES)
Realized gain / loss on silver transferred to pay expenses
77
92
(50 )
(69 )
50
Realized gain / loss on silver distributed for the redemption of Shares
—
779
(4,936 )
(1,512 )
(5,669 )
Change in unrealized gain / (loss) on investment in silver
73,050
(225,906 )
(61,597 )
229,412
14,959
Total gain / (loss) on investment in silver
73,127
(225,035 )
(66,583 )
227,831
9,340
Change in net assets from operations
$ 72,349
$ (225,879 )
$ (67,282 )
$ 227,091
$ 6,279
Net (decrease) / increase in net assets per Share
$ 1.58
$ (4.35 )
$ (1.38 )
$ 4.71
$ 0.13
Weighted average number of Shares
45,887,222
51,967,582
48,841,304
48,192,391
48,728,767
Note: Quarterly balances may not add to totals due to independent
rounding.
The financial statements required by Regulation S-X, together
with the report of the Trust’s independent registered public accounting firm appear on pages F-1 to F-13 of this filing.
41
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure
None.
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.