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iShares Silver Trust (BLK-0.79%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements showing an increase in net assets to $14,574,601,678 from $12,842,620,288 at the end of the previous quarter. This increase is attributed to both an increase in the number of shares and a rise in the price of silver.
During the quarter, the Trust issued 85,150,000 shares and redeemed 49,750,000 shares, leading to a net increase in shares outstanding.
The price of silver increased by 5.82% during the quarter, contributing to the rise in net asset value per share from $26.82 to $28.34.
The Trust reported a net increase in net assets resulting from operations of $800,630,649, which includes an unrealized gain on silver bullion and realized gains from silver bullion distributed and sold.
The Sponsor's fees for the quarter amounted to $16,928,398, representing 0.13% of the Trust's average weighted assets.
For the nine months ended September 30, 2024, the Trust reported an increase in net assets from $10,389,177,775 to $14,574,601,678, primarily due to a 30.64% increase in the price of silver.
The Trust's net asset value per share increased from $21.78 at the beginning of the year to $28.34 at the end of the third quarter.
The Sponsor's fees for the nine-month period totaled $44,720,517, or 0.37% of the Trust's average weighted assets.
The filing also confirms that there have been no material changes to the risk factors previously reported and that there are no ongoing legal proceedings involving the Trust.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the iShares Silver Trust quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.