Sprott Physical Silver Trust Net Asset Value Reaches $6 Billion
'We would like to thank our unitholders for their trust and support in helping the Sprott Physical Silver Trust reach this significant milestone,' said John Ciampaglia, Chief Executive Officer of Sprott Asset Management. 'PSLV provides investors with an alternative way to own fully allocated and segregated physical silver at a time when physical ownership has never been more important.'
''PSLV is fully backed by physical silver which is redeemable, subject to minimum investment size, and does not store its metal with bullion banks,' continued Mr. Ciampaglia. 'PSLV is a liquid exchange-listed vehicle, which is easy to buy and sell at price levels that closely correspond to the spot silver market.'
Key statistics:
PSLV is the second largest exchange listed physical silver fund in the world1 with 182.1 million ounces of silver held on behalf of its unitholders
PSLV has purchased over 120 million ounces since the beginning of 2020 and 1.5 million ounces so far in 2025
PSLV received physical redemption requests for 866 thousand ounces of silver in 2024 and has received no physical redemption requests in 2025
About Sprott
Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California and the company's common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol 'SII'. For more information, please visit www.sprott.com.
About the Trust
Important information about the Trust, including the investment objectives and strategies, applicable management fees, and expenses, is contained in the prospectus. Please read the prospectus carefully before investing. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Trusts on the Toronto Stock Exchange ('TSX') or the New York Stock Exchange ('NYSE'). If the units are purchased or sold on the TSX or the NYSE, investors may pay more than the current net asset value when buying units or shares of the Trusts and may receive less than the current net asset value when selling them. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
______________________
1 Based on Morningstar's universe of listed investment funds. Data as of 12/31/2024
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable United States securities laws and forward-looking information within the meaning of Canadian securities laws (collectively, 'forward-looking statements'). Forward-looking statements in this press release include, without limitation, our statements about price levels of the Trust closely corresponding to the spot silver markets.With respect to the forward-looking statements contained in this press release, the Trust has made numerous assumptions regarding, among other things, the silver market and the trading of Trust units. While the Trust considers these assumptions to be reasonable, these assumptions are inherently subject to significant business, economic, competitive, market and social uncertainties and contingencies. Additionally, there are known and unknown risk factors that could cause the Trust's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained in this press release. A discussion of risks and uncertainties facing the Trust appears in the Trust's continuous disclosure filings, which are available at www.sec.gov and www.sedarplus.ca. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and the Trust disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.
Investor Contact:
Glen WilliamsManaging PartnerInvestor and Institutional Client RelationsDirect: 416-943-4394gwilliams@sprott.com
Media contact:
Dan Gagnier Gagnier Communications (646) 569-5897sprott@gagnierfc.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
19 minutes ago
- Business Upturn
BRBR LOSS ALERT: BellRing Brands, Inc. Investors with Losses are Reminded of the Ongoing Securities Fraud Investigation – Contact BFA Law (NYSE:BRBR)
NEW YORK, Aug. 17, 2025 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into BellRing Brands, Inc. (NYSE: BRBR) for potential violations of the federal securities laws. If you invested in BellRing, you are encouraged to obtain additional information by visiting: Why is BellRing Being Investigated? BellRing Brands operates in the convenient nutrition category. The Company's primary brands include Premier Protein and Dymatize, which offer ready-to-drink ('RTD') protein shakes and powders. During the relevant period, the Company stated that Premier Protein 'hit an all-time high in household penetration' and that 'demand remains strong.' The Company also stated that its growth was 'strong in all channels,' driven by 'distribution expansion, accelerating velocities and incremental promotional activity.' In truth, the Company's sales growth during the relevant period may have been driven by temporary trade inventory loading at several key retailers, not sustainable end-consumer demand. The Stock Declines as the Truth Is Revealed On May 5, 2025, after market hours, BellRing revealed that starting in Q2 2023, 'several key retailers lowered their weeks of supply on hand,' which would create a headwind to Q3 2025 growth. The Company also announced it was expanding promotions to boost sales and 'offset [] third quarter reductions in retailer trade inventory levels.' On this news, the price of BellRing stock fell $13.96 per share, or more than 18%, from $77.34 per share on May 5, 2025, to $63.38 per share on May 6, 2025. Then, on August 4, 2025, after market hours, BellRing announced disappointing quarterly consumption of Premier Protein RTD Shakes, which had been expected to outpace shipments by a wider margin given previously announced retailer destocking, but instead came 'more in line' with shipments. On this news, the price of BellRing Brands stock fell $17.46 per share, or nearly 33%, from $53.64 per share on August 4, 2025, to $36.18 per share on August 5, 2025. Click here for more information: What Can You Do? If you invested in BellRing you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact:Ross Shikowitz [email protected] 212.789.3619
Business Upturn
20 minutes ago
- Business Upturn
CNC LOSS ALERT: Centene Corporation Investors with Losses are Reminded of the September 8 Class Action Deadline – Contact BFA Law (NYSE:CNC)
NEW YORK, Aug. 17, 2025 (GLOBE NEWSWIRE) — Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Centene Corporation (NYSE: CNC) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in Centene, you are encouraged to obtain additional information by visiting: Investors have until September 8, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased Centene securities. The case is pending in the U.S. District Court for the Southern District of New York and is captioned: Lunstrum v. Centene Corporation, et al. , No. 25-cv-05659. Why was Centene Sued for Securities Fraud? Centene is a healthcare company that focuses on providing services to consumers enrolled in government-sponsored healthcare programs like Medicaid and Medicare, as well as those that purchase insurance under the Affordable Care Act from the Health Insurance Marketplace. On December 12, 2024, Centene announced financial guidance for fiscal year 2025 which the company said reflected '[s]tability in earnings power in the face of unprecedented headwinds.' Next, on February 4, 2025, Centene increased its 2025 guidance due to enrollment 'overperformance.' Then, on April 25, 2025, Centene again increased 2025 guidance due to continued strong growth in enrollment and retention, while touting the 'progress we are making as an organization while navigating a dynamic policy landscape.' In truth, the majority of the market that Centene serves was experiencing lower than expected enrollment growth and increased morbidity rates, or frequency of disease and illness. The Stock Declines as the Truth is Revealed On July 1, 2025, Centene abruptly withdrew its previous guidance after reviewing an independent actuarial report from Wakely Consulting Group which showed that overall market growth in 22 of the 29 states Centene serves was lower than expected and that morbidity in those states was significantly higher than expected. On this news, the price of Centene stock fell $22.87 per share, or more than 40%, from $56.65 per share on July 1, 2025 to $33.78 per share on July 2, 2025. Click here for more information: What Can You Do? If you invested in Centene you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact:Ross Shikowitz [email protected] 212.789.3619
Yahoo
25 minutes ago
- Yahoo
Boom in Bespoke ETFs Drives Growth of Niche ‘A-La-Carte' Options
(Bloomberg) -- When Matt Kaufman needs to include options in Calamos Investments' defined-outcome ETFs, he turns to a type of bespoke equity derivative that lets him — rather than an exchange — set the terms of the contract. These Flexible Exchange Options — also known as 'Flex' — have existed since Cboe Global Markets Inc. introduced them in 1993 but only gained traction in recent years. The number of outstanding contracts has more than tripled since 2022, while the average daily volume has climbed 44% over the past year, according to data from Cboe. The US-Canadian Road Safety Gap Is Getting Wider Festivals and Parades Are Canceled Amid US Immigration Anxiety A Photographer's Pipe Dream: Capturing New York's Vast Water System Princeton Plans New Budget Cuts as Pressure From Trump Builds A London Apartment Tower With Echoes of Victorian Rail and Ancient Rome Their popularity is largely tied to the blistering growth in the defined-outcome exchange-traded funds. These ETFs aim to deliver highly specific goals — whether that's hedging against losses or enhancing income — using options. Assets in such products have swelled more than 60% over the past year to $215 billion, according to Asym 500, with nearly $90 billion of that managed by buffer funds that can reduce downside risk by giving up some potential upside. Flex contracts are crucial for building these products, thanks to their ability to let users pick custom strike prices and expiration dates, according to Kaufman, the head of ETFs at $44 billion asset manager Calamos. 'I cannot reliably or effectively use listed equity options to build a defined outcome strategy,' Kaufman said. 'If you went to the listed equity options marketplace, you might not be able to find the exact strike prices that you need.' While such a-la-carte features are common in over-the-counter derivatives, Flex options retain the benefits of being listed on exchanges and cleared by the Options Clearing Corp. That adds transparency and reduces counterparty credit risk — a key advantage for US ETFs regulated under the Investment Company Act of 1940, which tightly limits credit exposure. 'Using Flex options, we can now create something that's exchange traded,' Kaufman said. 'That gives you liquidity. You can buy in and out whenever you want, and you can know exactly what your outcome is before you buy.' One particularly popular feature of Flex options is the ability to leave the strike price blank, meaning it automatically executes at the end of the day based on the closing price of the underlying security — for example as a hedge against a 10% drop in the S&P 500 Index. Dealers can offer more competitive pricing on such contracts because they don't need to worry about hedging their position dynamically through the day, according to Chad Blank, RBC Capital Markets' global co-head of flow trading. Beyond ETFs There are other uses beyond just ETFs, including so-called synthetic stock borrow and reverse conversion trades, which account for roughly half of Flex option trading, said Henry Schwartz, vice president of derivatives market intelligence at Cboe. Normally, US-listed single-stock and ETF options are 'American-style,' meaning the holder can exercise them any time they like. That can cause complications for investors trying to maintain a hedge for a specific period of time. Flex options, on the other hand, can be 'European-style,' where the contracts can be exercised only at the expiration date. That eliminates the possibility of early exercise and ensures positions remain in place until closed or expired. Hedge funds 'prefer the European style options, because then there's just no chance of an early assignment and no chance their trade gets morphed into something else,' Schwartz said. Short sellers betting against a stock often turn to Flex contracts to build a synthetic short position by buying a put and selling a call at the same strike price. That allows them to avoid going through a stock loan desk, with the cost of borrow instead embedded in the option premiums. Here are some examples of Flex options with bespoke strikes and expiration dates that traded Friday: This is particularly valuable when a stock is hard to borrow — if there is high demand from short sellers and limited supply — which can lead to unstable or prohibitively high costs. According to Schwartz, Circle Internet Group Inc., Wolfspeed Inc. and Paramount Skydance Corp. are among the companies with sizable outstanding Flex options. They're all hard to borrow names. Flex options are also increasingly used in reverse conversion trades that give an alternative method of financing a stock position while locking that in for a specific time horizon. Risk arbitragers often use this multi-leg package — long stock, long put, short call — to structure bets on complex deals and tender offers because they need the trade to stick through the deadline of the offers. In recent years, that was seen in situations including AMC Entertainment Holdings Inc.'s conversion of preferred stock into common shares and Johnson & Johnson's split-off of its $40 billion stake in Kenvue Inc. 'That business is seemingly going to increase just because the desks that are using it, they love it, and there are more people figuring out that there's a more efficient way to locate stock,' Schwartz added. The bespoke expiration dates lets a client isolate protection for specific events such as earnings, Blank noted. That mirrors the precision of major index and ETF options, which have expiry dates every day of the week. Small But Growing To be sure, Flex options are still a drop in the ocean compared with listed equity derivatives, representing just 2% of total volume on a typical day, according to Cboe data. They're not for the casual trader as they typically come with more brokerage and execution fees. On the other side of the trading spectrum, some seasoned hedge funds might still prefer over-the-counter trades to keep their moves under the radar. And to brokers and other intermediaries, a lingering concern is that this product might eat into their profitable business of bilateral contracts. But banks and clients are getting more adept at putting these trades on, according to Alex Kosoglyadov, managing director for equity derivatives at Nomura Holdings Inc. 'It is getting easier to book Flex options trades,' Kosoglyadov said. 'There is definitely more awareness of the product.' Meanwhile, at RBC, the Flex options business of Blank's desk has increased 'in orders of magnitude' over the past couple of years as demand from ETF providers has risen, he said. 'Growth has exploded,' Blank said. --With assistance from Carly Wanna and Christian Dass. What Declining Cardboard Box Sales Tell Us About the US Economy Americans Are Getting Priced Out of Homeownership at Record Rates How Syrian Immigrants Are Boosting Germany's Economy Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Dubai's Housing Boom Is Stoking Fears of Another Crash ©2025 Bloomberg L.P.
