Assets Under Management (AUM) - AUM increased by $9.1 billion during Q3, reaching $49.1 billion[9] - AUM surpassed $50 billion for the first time in October[9] - Physical Trusts AUM increased by $6.5 billion or 21% during the quarter[25] - Year-to-date, Physical Trusts have gained $15.4 billion or 64% in AUM[25] - ETF AUM is up sharply in 2025, increasing by 83%[31] Financial Performance - The company bought back 15,386 shares during the quarter at an average price of $64.99/share, totaling $1 million[21] - Year-to-date, the company bought back 28,601 shares at an average price of $54.27/share, totaling $1.6 million[21] - Third quarter dividend increased by 33% to $0.40 per share from the second quarter's $0.30 per share[9, 22] - Adjusted EBITDA reached $31.9 million for Q3 2025, with an adjusted EBITDA margin of 65%[43] - Net income for the period was $13.2 million, resulting in a net income margin of 20%[43]

Price Action Summary - The price of silver has experienced significant movement over the past month, breaking out into the $36 range after fluctuating between $30 and $34 per ounce since last summer [1]