Sprott Physical Silver Trust (NYSEArca: PSLV) was in negative territory Thursday while silver prices rose after its manager announced a follow-on offering to buy more bullion.
Sprott Physical Silver Trust was down 4% in afternoon trading Thursday.
The iShares Silver Trust (NYSEArca: SLV), an $8.5 billion ETF that invests in silver bullion, gained 0.7% in recent action.
Sprott Physical Silver Trust fell while silver prices rose because its premium to net asset value narrowed after the follow-on announcement late Wednesday.
Although it trades on NYSE Arca like most ETFs, the Sprott silver product has some unique wrinkles.