ISHARES SILVER TR

iShares Silver Trust (SLV) shows 125 institutional holders in this quarter's 13F data, and the numbers imply the fund's price fell roughly 21% during the period — several holders whose share counts barely moved nonetheless saw meaningfully lower position values. Against that decline, two holders stand out for buying aggressively rather than retreating: Procyon Advisors grew its share count nearly 7x (from 20,352 to 139,203 shares), and CoreCap Advisors grew roughly 4x (from 35,465 to 142,740 shares) — both additions large enough that their position values rose in dollar terms ($6.1 million and $5.2 million respectively) despite the falling price. Three new holders also entered during the decline: Evanson Financial ($4.8 million), GK Wealth Management ($4.6 million), and Balefire ($1.1 million). On the other side, Bison Wealth cut its stake 72.8% (from 77,828 to 21,185 shares, -$5.0 million, the largest reduction in the dataset), and Wealthcare Advisory Partners, Augustine Asset Management, and Strategic Investment Solutions all trimmed meaningfully as well. The split is clean: a handful of holders bought heavily into the weakness, while several of the largest pre-existing holders reduced exposure as the price fell.