Sprott Physical Silver Premium To NAV Hits Fresh All Time High

Sprott Physical Silver Premium To NAV Hits Fresh All Time High

by Tyler Durden

1 person liked this

Several days ago there were a few rather amusing anecdotes in the blogosphere that just because Sprott filed a selling shareholder shelf in PSLV, the ETF was about to crash and burn. What was not disclosed is that in 2011 there have been about 200 comparable shelves filed for public companies, yet nobody called for the imminent anihilation of 40% of the S&P. Stunningly, just because someone requests the right to sell an asset they own when said asset is trading at all time highs, apparently does not mean they intent to exercise said right. To wit: the premium to NAV for the Eric Sprott physical silver ETF just hit an all time record of 23%. We are confident that this is due to JPMorgan being massively long the metal, and also because anywhere one walks these days, physical silver lying on the ground is more prevalent than dog excrement. Also, those who decided to play the premium-NAV compression trade, are advised to promptly close it unless, of course, they are a TBTF bank.

This entry was posted in Eric Sprott, PSLV, Silver, Zero Hedge. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s