Quantedge Capital Pte Ltd Increases Position in ASA Gold and Precious Metals Limited $ASA

Key Points

• Quantedge Capital Pte Ltd increased its stake in ASA Gold and Precious Metals by 580.7% in the first quarter, ending with 27,547 shares worth about $1.71 million.
• ASA Gold and Precious Metals was trading up 3.8% at $50.52, though the stock remains well below its 52-week high of $83.20.
• Weiss Ratings slightly downgraded the stock from “buy (b)” to “buy (b-),” while MarketBeat shows the overall consensus rating remains Buy.

Quantedge Capital Pte Ltd lifted its position in ASA Gold and Precious Metals Limited (NYSE:ASA - Free Report) by 580.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,547 shares of the investment management company's stock after acquiring an additional 23,500 shares during the period. ASA Gold and Precious Metals accounts for approximately 0.9% of Quantedge Capital Pte Ltd's investment portfolio, making the stock its 24th biggest holding. Quantedge Capital Pte Ltd owned about 0.15% of ASA Gold and Precious Metals worth $1,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASA. WHI TRUST Co LLC acquired a new stake in ASA Gold and Precious Metals during the 4th quarter worth about $30,000. GHP Investment Advisors Inc. purchased a new stake in ASA Gold and Precious Metals during the 1st quarter valued at about $31,000. Advisory Services Network LLC acquired a new position in shares of ASA Gold and Precious Metals in the third quarter valued at about $55,000. Kestra Advisory Services LLC acquired a new position in shares of ASA Gold and Precious Metals in the fourth quarter valued at about $58,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of ASA Gold and Precious Metals in the second quarter worth about $61,000.

ASA Gold and Precious Metals Trading Up 3.8%

NYSE:ASA opened at $50.52 on Wednesday. ASA Gold and Precious Metals Limited has a 1-year low of $30.95 and a 1-year high of $83.20. The company's fifty day moving average price is $57.11 and its 200-day moving average price is $63.61.

Analyst Ratings Changes

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 MarketBeat, the stock has a consensus rating of "Buy".

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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