Friday, March 25, 2011

iShares Silver Trust (SLV) Holdings Hit Record High

iShares Silver Trust (NYSEArca: SLV), which was built to reflect the price of silver minus the costs of running the trust, announced its holdings have risen to a record high of 11,139.52 tons by March 24, up 1.6 percent from 10,960.39 tons on March 18.

Shares of iShares Silver Trust have been soaring over the last 12 months, jumping from $16.32 on March 25, 2010 to closed at $36.12 on Thursday, March 24.

Volume Thursday was almost double the 28,229,000 3-month average, surging to 55,091,197 shares exchanging hands.

Many investors believe silver will rise to as high as $50 an ounce, and possibly much higher.

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