ASA Gold and Precious Metals Limited (NYSE:ASA) Short Interest Up 105.7% in July

Key Points

• Short interest in ASA Gold and Precious Metals increased by 105.7% in July, reaching 25,100 shares, indicating heightened investor bearishness.
• Major shareholder Saba Capital Management acquired 354,169 shares at an average price of $35.39, increasing their stake by 9.61% to over 4 million shares.
• Several hedge funds have significantly raised their stakes in ASA, with Sessa Capital lifting its position by 56.3% and Capstone Investment Advisors increasing theirs by 634.3% in recent quarters.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 25,100 shares, anincreaseof105.7% from the July 15th total of 12,200 shares. Currently,0.1% of the shares of the stock are sold short. Based on an average trading volume of 75,200 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 75,200 shares, the days-to-cover ratio is currently 0.3 days. Currently,0.1% of the shares of the stock are sold short.

Insiders Place Their Bets

In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. bought 1,600 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of $34.46 per share, with a total value of $55,136.00. Following the completion of the purchase, the insider directly owned 4,062,461 shares in the company, valued at $139,992,406.06. The trade was a 0.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought a total of 808,624 shares of company stock valued at $28,414,612 over the last quarter. Insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several institutional investors have recently added to or reduced their stakes in the company. Sessa Capital IM L.P. lifted its holdings in ASA Gold and Precious Metals by 56.3% during the 1st quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company's stock valued at $31,647,000 after purchasing an additional 378,327 shares during the last quarter. Sprott Inc. raised its stake in shares of ASA Gold and Precious Metals by 74.9% in the first quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock worth $8,445,000 after acquiring an additional 120,000 shares during the last quarter. Capstone Investment Advisors LLC raised its stake in shares of ASA Gold and Precious Metals by 634.3% in the fourth quarter. Capstone Investment Advisors LLC now owns 266,221 shares of the investment management company's stock worth $5,383,000 after acquiring an additional 229,968 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of ASA Gold and Precious Metals by 223.9% in the first quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock worth $5,692,000 after acquiring an additional 130,547 shares during the last quarter. Finally, Medici Capital LLC bought a new position in shares of ASA Gold and Precious Metals in the second quarter worth about $5,238,000.

ASA Gold and Precious Metals Trading Up 1.1%

ASA stock traded up $0.3780 during trading on Wednesday, hitting $34.4180. 60,951 shares of the stock traded hands, compared to its average volume of 75,739. ASA Gold and Precious Metals has a one year low of $18.51 and a one year high of $35.60. The company has a 50 day simple moving average of $32.94 and a 200 day simple moving average of $29.92.

ASA Gold and Precious Metals Company Profile

ASA Gold and Precious Metals Limited is a publicly owned investment manager. The firm invests in the public equity markets across the globe. It primarily invests in stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds, or other precious minerals. It also invests in exchange traded funds.