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

Key Points

• Short interest fell 31.9% to 6,063 shares as of July 15, down from 8,897 shares on June 30. Short interest represented approximately 0.0% of shares, with a 0.1-day short-interest ratio.
• ASA shares opened at $50.87 and were reported up 3.4%; the stock’s 12-month trading range is $30.95 to $83.20.
• MarketBeat analysts maintain an average “Buy” rating, although Weiss Ratings recently downgraded the stock from “buy (b)” to “buy (b-).” Several investment firms also established new positions in the company.

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

ASA Gold and Precious Metals Trading Up 3.4%

NYSE 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 company's fifty day moving average price is $55.15 and its two-hundred day moving average price is $63.11.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded ASA Gold and Precious Metals from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, ASA Gold and Precious Metals currently has an average rating of "Buy".

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several large investors have recently modified their holdings of the stock. WHI TRUST Co LLC acquired a new position in ASA Gold and Precious Metals in the fourth quarter worth about $30,000. GHP Investment Advisors Inc. acquired a new stake in ASA Gold and Precious Metals during the first quarter valued at approximately $31,000. Group One Trading LLC acquired a new stake in ASA Gold and Precious Metals during the first quarter valued at approximately $50,000. Advisory Services Network LLC bought a new position in ASA Gold and Precious Metals during the 3rd quarter worth approximately $55,000. Finally, Kestra Advisory Services LLC bought a new position in ASA Gold and Precious Metals during the 4th quarter worth approximately $58,000.

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.

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