On June 23, Sprott Physical Silver Trust declined 5.07% in regular trading, trading at $19.58/share, with turnover of $152 million. The fund, which holds physical silver bullion as its underlying asset, has been directly impacted by the continued sharp selloff in silver prices.

On the news front, spot silver plunged nearly 5% on the day, breaking below $62/oz and hitting a three-month low. The decline was primarily driven by escalating Fed rate hike expectations after major investment banks raised their forecasts to three 25-basis-point hikes this year in September, October, and December. CME FedWatch data showed traders now price in a 51.2% probability of a September hike and 89% for December, sharply higher than pre-FOMC levels. Rising U.S. Treasury yields and a stronger dollar have significantly pressured non-yielding precious metals, with silver entering a sustained weak trading pattern within a descending channel on technical charts.

The current share price has fallen over 48% from its 52-week high of $38.13, reflecting the broader collapse in silver-linked assets amid tightening financial conditions.

Sprott Physical Silver Trust is an exchange-traded commodity fund managed by Sprott Asset Management, LP. The fund invests primarily in physical silver bullion in London Good Delivery bar form. It was formed on June 30, 2010 and is domiciled in Canada.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)