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

ASA Gold and Precious Metals Limited (NYSE:ASA) was the recipient of a large decrease in short interest in the month of October. As of October 30th, there was short interest totaling 4,603 shares, a decrease of 80.6% from the October 15th total of 23,721 shares. Based on an average daily volume of 35,268 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the company’s stock are short sold.

ASA Gold and Precious Metals Stock Up 1.7%

NYSE ASA traded up $0.84 on Friday, reaching $49.74. The company had a trading volume of 21,960 shares, compared to its average volume of 48,716. ASA Gold and Precious Metals has a 1 year low of $45.79 and a 1 year high of $83.20. The firm has a 50-day moving average of $54.44 and a 200-day moving average of $60.29.

ASA Gold and Precious Metals Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, November 12th. Stockholders of record on Thursday, November 5th were given a dividend of $0.05 per share. This represents a dividend yield of 20.0%. The ex-dividend date of this dividend was Thursday, November 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Saba Capital Management L.P. lifted its holdings 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 worth $366,207,000 after buying an additional 511,988 shares in the last quarter. Quantedge Capital Pte Ltd increased its position in shares of 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 purchasing an additional 23,500 shares during the last quarter. Royal Bank of Canada lifted its holdings in ASA Gold and Precious Metals by 882.4% during the 1st quarter. Royal Bank of Canada now owns 360,577 shares of the investment management company’s stock worth $22,366,000 after buying an additional 323,875 shares during the last quarter. Group One Trading LLC acquired a new position in shares of ASA Gold and Precious Metals in the 1st quarter valued at about $50,000. Finally, Private Advisor Group LLC grew its holdings in shares of ASA Gold and Precious Metals by 7.6% during the third quarter. Private Advisor Group LLC now owns 89,477 shares of the investment management company’s stock valued at $4,988,000 after purchasing an additional 6,315 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised ASA Gold and Precious Metals from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, ASA Gold and Precious Metals currently has a consensus rating of “Buy”.

About ASA Gold and Precious Metals

ASA Gold and Precious Metals Limited is a closed-end investment company focused on the precious-metals and minerals sector. Rather than operating mines itself, it invests primarily in the securities of companies involved in exploring for, mining, or processing gold, silver, platinum, and other precious metals and minerals. The company’s investments span businesses with operations in multiple regions, giving shareholders exposure to the global precious-metals industry through a managed portfolio.