ASA Gold and Precious Metals Limited (NYSE:ASA) Sees Large Decline in Short Interest

ASA Gold and Precious Metals Limited (NYSE:ASA) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 6,063 shares, a drop of 31.9% from the June 30th total of 8,897 shares. Based on an average daily volume of 63,434 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of ASA Gold and Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quantedge Capital Pte Ltd raised its stake in shares of ASA Gold and Precious Metals by 580.7% during the first quarter. Quantedge Capital Pte Ltd now owns 27,547 shares of the investment management company’s stock valued at $1,709,000 after purchasing an additional 23,500 shares in the last quarter. Altium Capital Management LLC bought a new position in ASA Gold and Precious Metals in the 4th quarter valued at about $3,116,000. Saba Capital Management L.P. grew its position in ASA Gold and Precious Metals by 9.5% in the 1st quarter. Saba Capital Management L.P. now owns 5,903,701 shares of the investment management company’s stock valued at $366,207,000 after buying an additional 511,988 shares in the last quarter. Flax Pond Capital LLC acquired a new position in ASA Gold and Precious Metals during the 4th quarter valued at about $567,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in ASA Gold and Precious Metals during the 1st quarter valued at about $261,000.

ASA Gold and Precious Metals Stock Performance

ASA opened at $50.87 on Friday. ASA Gold and Precious Metals has a 12 month low of $30.95 and a 12 month high of $83.20. The stock’s 50 day moving average price is $55.15 and its 200 day moving average price is $63.11.

About ASA Gold and Precious Metals

ASA Gold & Precious Metals Limited, trading on the New York Stock Exchange under the ticker ASA, is a closed-end investment company dedicated to providing shareholders with targeted exposure to the precious metals sector. Established in 1959 and domiciled in Guernsey, the company aims to combine dividend income with the potential for long-term capital appreciation by investing in a diversified suite of gold, silver, platinum and palladium assets.

The firm’s core activities involve constructing and managing a portfolio that blends equity positions in precious metals mining companies with direct holdings of physical bullion.