Investors who buy mining stocks often do so as a leveraged bet on silver prices. It is little wonder then that central banks were a key driver of silver miner ETFs' strong performance in the third quarter. Though current market conditions may have obscured the memory a bit, at the beginning of the last quarter silver was in the red and investors were on the sidelines. In August, there was a notable shift in sentiment and investors returned to play.Anticipation that the European Central Bank and the Federal Reserve would intervene in the markets and the generous programs that confirmed these expectations not only turned the tide among physical investors, but also among silver miner ETF investors. The rewards were more attractive for the latter. According to ETF Trends, SIL was a top performer among all types of ETFs in September.
Silver Miner ETFs Top Performers In Q3
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts