PSLV dropped 10% due to being bid up to much. I think shares were put out on the market as an offering. More silver was bought and shares were put on the market. The % over NAV is around 10% now. When you buy this fund the NAV has to be considered before you buy, I do believe it is safe to buy but dont buy much over NAV. It shouldnt go below NAV because silver backs it. High volume bidding raised the price over NAV. In a sence the hair grew to fast and it got a haircut.