iShares Silver Trust (SLV) Surpasses $40 for First Time

For the first time in its history, shares of iShares Silver Trust (NYSEArca:SLV) traded above $40. Silver futures had also traded above $41 a share during the early trading session.

Silver bullion holdings in SLV are above $370 million ounces at this time.

Shares in SLV jumped as high as $40.33 before pulling back.

Matthew Zeman at Kingsview Financial said, “The silver market is the one everyone is in love with and afraid of missing the boat. People fully expect silver to get to $50.”

Over the last 3 months SLV is up over 40 percent, with more expected with silver prices believed to be going to surge to at least $50 an ounce.

iShares Silver Trust was trading at $39.69, falling $0.17, or 0.43 percent, as of 1:08 PM EDT.