Silver Hedge Funds

Silver Hedge Funds

Price of Silver Falls, Some Hedge Funds Hurt by Decline

Following up on yesterday's article reporting on how hedge funds remained bullish on silver. Now, hedge funds are feeling the sting as the price of silver has dropped dramatically in the last few days.
Silver was above $50 just a couple of days ago. Not anymore. iShares Silver Trust (SLV) lost nearly $8 per share during the last couple of days. Business Insider listed Charles Davidson’s Wexford Capital as one of the biggest holders of SLV at the end of December. Wexford had 841 thousand shares of SLV. They also had call options on 200 thousand shares. The value of their holdings is worth more than $40 Million today. There are other hedge funds with bigger SLV holdings though.

Peter J. Eichler’s Alethia Research had more than 4.8 Million shares of SLV. Alethia lost more than $38 Million in just two days. But don’t feel sorry for them, they made more than $40 Million since the end of 2010.

Richard Chilton’s Chilton Investment Company had more than 3.3 Million shares of SLV. Chilton lost more than $25 Million during the past couple of days.

Finally Jean-Marie Eveillard’s First Eagle had 1,350,000 shares of SLV. First Eagle’s loss is around $10.8 Million, which is 30% more than Wexford’s. Source

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