Item 8. Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data.
The following tables show the Trust’s quarterly financial information for 2023 and 2022.
Three Months Ended (Unaudited)
March 31,
2023
June 30,
2023
September 30,
2023
December 31,
2023
Expenses
Sponsor’s fee
$
13,133,630
$
14,120,304
$
13,376,846
$
12,931,043
Total Expenses
13,133,630
14,120,304
13,376,846
12,931,043
Net investment loss
(13,133,630
)
(14,120,304
)
(13,376,846
)
(12,931,043
)
Net Realized and Unrealized Gain (Loss)
Net realized gain from:
Silver bullion sold to pay expenses
$
776,041
$
1,318,757
$
1,173,908
$
604,351
Silver bullion distributed for the redemption of Shares
49,177,274
79,642,405
94,335,795
59,468,789
Net realized gain
49,953,315
80,961,162
95,509,703
60,073,140
Net change in unrealized appreciation/depreciation on investment in silver bullion
(115,731,699
)
(745,821,212
)
220,590,322
279,044,220
Net realized and unrealized gain (loss)
(65,778,384
)
(664,860,050
)
316,100,025
339,117,360
Net increase (decrease) in net assets resulting from operations
$
(78,912,014
)
$
(678,980,354
)
$
302,723,179
$
326,186,317
Net increase (decrease) in net assets per Share
$
(0.15
)
$
(1.33
)
$
0.62
$
0.68
21
Table of Contents
Three Months Ended (Unaudited)
March 31,
2022
June 30,
2022
September 30,
2022
December 31,
2022
Expenses
Sponsor’s fee
$
15,968,507
$
15,936,118
$
11,853,564
$
12,677,107
Total Expenses
15,968,507
15,936,118
11,853,564
12,677,107
Net investment loss
(15,968,507
)
(15,936,118
)
(11,853,564
)
(12,677,107
)
Net Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Silver bullion sold to pay expenses
$
1,304,282
$
903,438
$
(1,666,752
)
$
(579,557
)
Silver bullion distributed for the redemption of Shares
69,885,981
27,647,155
(253,409,032
)
(21,114,739
)
Net realized gain (loss)
71,190,263
28,550,593
(255,075,784
)
(21,694,296
)
Net change in unrealized appreciation/depreciation on investment in silver bullion
874,378,036
(2,536,190,240
)
(489,449,244
)
2,366,708,738
Net realized and unrealized gain (loss)
945,568,299
(2,507,639,647
)
(744,525,028
)
2,345,014,442
Net increase (decrease) in net assets resulting from operations
$
929,599,792
$
(2,523,575,765
)
$
(756,378,592
)
$
2,332,337,335
Net increase (decrease) in net assets per Share
$
1.59
$
(4.15
)
$
(1.43
)
$
4.51
See Index to Financial Statements on page F-1 for a list of the financial statements being filed herein.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
There have been no changes in accountants and no disagreements with accountants during the year ended December 31, 2023.
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.