ETF Trends
ETF Trends

Silver exchange traded funds (ETFs) bounced in late-morning trade, paring some of their earlier losses as investors weighed the impact of the death of al-Qaeda leader Osama bin Laden and a margin hike for silver futures.

Still, iShares Silver Trust (NYSEArca: SLV) was down more than 2% at last check. It was once again the ETF volume leader in terms of shares traded.

A leveraged ETF that bets against the metal, ProShares UltraShort Silver (NYSEArca: ZSL), was also active.

Other ETFs that go long silver include ETFS Physical Silver (NYSEArca: SIVR) and PowerShares DB Silver (NYSEArca: DBS).

“This was the second margin increase in the span of one week,” said a U.S.-based fund manager, according to FastMarkets. Comex operator CME Group β€œis clearly concerned about the recent violent price movements and they’re taking steps to curb speculation.”

iShares Silver Trust

Full disclosure: Tom Lydon’s clients own SLV.

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