Short Interest in ASA Gold and Precious Metals Limited (NYSE:ASA) Declines By 31.9%

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

Wall Street Analysts Forecast Growth

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

ASA Gold and Precious Metals Stock Performance

Shares of NYSE ASA opened at $48.94 on Friday. ASA Gold and Precious Metals has a 1 year low of $30.95 and a 1 year high of $83.20. The firm’s 50 day moving average price is $54.94 and its 200 day moving average price is $63.01.

Institutional Investors Weigh In On ASA Gold and Precious Metals

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

ASA Gold and Precious Metals Company Profile

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.