ETF Trends
ETF Trends

We have mentioned persistent and bullish call buying in the largest silver exchange traded fund in recent recaps throughout January and February, and yesterday was no exception as the metal continued its recent rally and call buyers were again present.

The iShares Silver Trust (NYSEArca: SLV) has rallied nearly 23% year to date and is approaching its 200-day simple moving average of $34 a share, a level not touched since last September. [What Silver ETFs are Saying About Precious Metals]

In ETF options, call buying in SLV has been a predominant theme for much of 2012 as the metal has rallied an impressive 24% year to date. [List of Silver ETFs]

Silver miner ETFs have also been moving higher this year. Access to the silver miners space was not possible in the ETF universe until April of 2010 when Global X Silver Miners (NYSEArca: SIL) debuted, and the ETF tracks the Solactive Global Silver Miners index.

This product has a global focus, concentrating on equities that derive revenues from silver mining activities including refining and exploration. [Silver ETFs Keep Pace with Metal’s Rise]

Currently, SIL is heavily weighted toward Canada, with 51.15% of its holdings being domiciled there, and the remaining holdings are in Latin America (25.34%), Europe (13.39%), the United States (9.62%), and Australia (0.32%).

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