Eric Sprott Sells the Balance of His PSLV Shares (For His For-Profit Funds)

Eric Sprott’s latest 13d filing in $PSLV shows that the funds he manages (for investors, for profit, that is) have sold every last share of $PSLV that they own, taking full advantage of the roughly 20% premium to Net Asset Value that the closed end fund carries.  Sprott has now begun selling the $PSLV shares held by his charitable Sprott Foundation.  Although Mr. Sprott’s charitable foundation may not come with the same fiduciary duty that his hedge funds do, I wouldn’t expect him to leave free money on the table – I see no reason why Sprott wouldn’t continue to liquidate these remaining Foundation shares as well – reinvesting the proceeds into silver instruments that don’t trade at a 20% premium.

In total, Sprott’s 13d filings over the last 5 months account for the sale of 9,834,400* shares of $PSLV by funds managed by Eric Sprott (excluding the Sprott Foundation shares below), at an average price of $19.36 and an approximate average premium to NAV of 20.33%.   By selling the shares at a hefty premium and reinvesting the proceeds into other silver instruments, Sprott “arbitraged” $38.8 MM in profit.


Shares Sold by Entities Managed Either by Sprott Asset Management L.P. or Eric S. Sprott


Date of
Number of Units
Price per Unit


Shares Sold by the Sprott Foundation


Date of
Number of Units
Price per Unit


That’s a total of 1,546,812 shares sold in this latest reporting period, and leaves 3,809,315 shares held by the Sprott Foundation.

background reading:

Sep 19th: Sprott sells 1.754MM PSLV

Sep 12th: Sprott sells 1.827MM PSLV

Aug 26th: Sprott sells 1.6MM PSLV

Aug 11th: Sprott sells 565k PSLV

Aug 2nd: Sprott sells 700k PSLV

July 23rd: Sprott sells 1MM+ PSLV

July 14th: Sprott sells 700k+ PSLV

April 28th: Sprott sells 1.6MM PSLV

March 12th: Sprott files to sell his PSLV shares

March 8th: “Misinterpreting PSLV’s Premium to NAV

July 18th: “Ask Eric Sprott Why He Won’t Buy More Silver for PSLV


disclosure: no positions in $PSLV or $SLV

* as I noted in one of the earlier posts, there are 154,900 shares “missing” and unaccounted for.


Kid Dynamite is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to If you click on my links and buy anything, even something other than the product advertised, I earn a small commission, yet you don't pay any extra. Thank you for your support.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus
Kiddynamitesworld Blog