RE:RE:SLV $75 by May 1st...who knew making $$$$ The assets of the iShares Silver Trust consist primarily of silver held by JPMorgan Chase (JPM), the custodian institution, on behalf of the fund. The fund may hold a very limited amount of cash in special situations. The iShares Silver Trust is passively managed as it does not buy or sell silver to take advantage of market price swings. However, SLV sells silver from time to time to cover its operating expenses.
Buying SLV shares provides a simple, yet cost-effective way to invest in silver. Although the shares of the trust are not a direct substitute for actual silver, they still provide an alternative to participating in the commodities market. The fund offers a convenient way of obtaining exposure to silver without a need on the part of an investor to actually hold silver. Acquiring and storing silver can be very expensive and complicated.
Characteristics
The iShares Silver Trust is one of the ETFs administered by BlackRock. Each share of the fund represents a fractional undivided beneficial interest in the net assets of the iShares Silver Trust. SLV has a relatively low annual expense ratio of 0.5% when compared to its ETF peers from the precious metals sector. Brokerage costs for the fund to buy and sell shares are not part of the expense ratio. As SLV is an ETF, it has no front end or back end load. The shares of SLV are traded on the New York Stock Exchange Arca, and investors can purchase them like any other stock.