SLVO:NASDAQETRACS Silver Shares Covered Call ETNs due April 21, 2033 Analysis
Data as of 2026-06-07 - not real-time
$79.90
Latest Price
7/10Risk
Risk Level: Medium
Executive Summary
SLVO is entrenched in a bearish technical environment – the price (79.9) sits well below its 20‑day, 50‑day and 200‑day SMAs (86.98, 87.63, 93.09) and the MACD histogram is negative. Momentum indicators reinforce this view, with RSI at 30.6 (near oversold) and a bearish MACD signal. Volume is trending down, while 30‑day volatility remains high at over 31%, suggesting price swings could continue.
On the fundamentals side, silver has surged +145% in 2025 and faces a projected 216 million‑oz shortfall in 2026, which could fuel a price rally. However, SLVO’s covered‑call structure caps upside and its expense ratio of 0.65% eats into returns. The fund’s sector concentration is high (single‑commodity exposure), tracking error is negligible, liquidity is moderate, and currency risk is low.
On the fundamentals side, silver has surged +145% in 2025 and faces a projected 216 million‑oz shortfall in 2026, which could fuel a price rally. However, SLVO’s covered‑call structure caps upside and its expense ratio of 0.65% eats into returns. The fund’s sector concentration is high (single‑commodity exposure), tracking error is negligible, liquidity is moderate, and currency risk is low.
Market Outlook
Short Term
< 1 yearCautious
Model confidence: 6/10
Key Factors
- Price below all major SMAs and bearish MACD
- Decreasing volume indicating weakening buying interest
- High short‑term volatility (>30%)
Medium Term
1–3 yearsNeutral
Model confidence: 7/10
Key Factors
- Silver supply deficit and strong mining profit margins supporting price recovery
- Extreme greed sentiment (FGI 83) suggesting bullish market bias
- Covered‑call premium providing modest yield (~0.46%)
Long Term
> 3 yearsNeutral
Model confidence: 6/10
Key Factors
- High sector concentration in a single commodity
- Expense ratio (0.65%) and capped upside from the covered‑call strategy
- Beta near 1, implying correlation with broader market moves
Key Metrics & Analysis
Fund Metrics
Expense Ratio0.65%
AUM$382.5M
Inception Date2013-04-16
Avg Daily Volume81,000
Premium/Discount0.00%
Tracking Error0.00%
Dividend Yield46.02%
Technical Analysis
TrendBearish
RSI30.6
Support$79.68
Resistance$92.79
MA 20$86.98
MA 50$87.63
MA 200$93.09
MACDBearish
VolumeDecreasing
Fear & Greed Index83.02
Risk Assessment
Beta0.96
Volatility31.14%
Currency RiskLow
Liquidity RiskMedium
Similar Tickers
This analysis may contain inaccuracies and is provided for informational and research purposes only. It is not personal investment advice, a recommendation, or an instruction to buy, sell, or hold any asset.