ASA Gold and Precious Metals Limited (NYSE:ASA) Short Interest Update

Key Points

• Short interest fell 60% to 3,079 shares as of September 15, representing approximately 0.0% of ASA’s shares outstanding and a short-interest ratio of 0.0 days.
• Institutional ownership increased, with notable additions from Saba Capital Management, Quantedge Capital, and Royal Bank of Canada; Saba remains the largest listed holder with 5.9 million shares.
• ASA shares declined 3.7% to $54.60, below both their 50-day and 200-day moving averages. Despite the decline, Weiss Ratings reiterated a “buy (b-)” rating, and the stock maintains a consensus “Buy” rating.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 3,079 shares, a decline of 60.0% from the August 31st total of 7,688 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 61,653 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of ASA Gold and Precious Metals

A number of institutional investors and hedge funds have recently modified their holdings of ASA. Saba Capital Management L.P. lifted its position in 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 purchasing an additional 511,988 shares during the period. Quantedge Capital Pte Ltd increased its holdings 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 valued at $1,709,000 after buying an additional 23,500 shares during the period. Royal Bank of Canada increased its holdings in ASA Gold and Precious Metals by 882.4% in the 1st quarter. Royal Bank of Canada now owns 360,577 shares of the investment management company's stock valued at $22,366,000 after buying an additional 323,875 shares during the period. Flax Pond Capital LLC acquired a new position in shares of ASA Gold and Precious Metals in the 4th quarter valued at $567,000. Finally, Integrated Wealth Concepts LLC raised its stake in shares of ASA Gold and Precious Metals by 3.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 12,143 shares of the investment management company's stock valued at $632,000 after buying an additional 443 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "buy (b-)" rating on shares of ASA Gold and Precious Metals in a report on Monday, August 31st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".

ASA Gold and Precious Metals Trading Down 3.7%

ASA traded down $2.08 on Monday, hitting $54.60. 37,994 shares of the stock traded hands, compared to its average volume of 88,291. The business has a fifty day moving average price of $57.91 and a two-hundred day moving average price of $59.91. ASA Gold and Precious Metals has a 52 week low of $43.20 and a 52 week high of $83.20.

About ASA Gold and Precious Metals

ASA Gold and Precious Metals Limited NYSE: ASA is a closed-end investment company that seeks long-term capital appreciation by investing primarily in companies involved in the exploration, mining, and processing of gold and other precious metals.

The fund's portfolio may include businesses associated with gold, silver, platinum-group metals, diamonds, and other precious minerals. Its investments can span mining companies and related enterprises in established and emerging resource-producing regions around the world, giving shareholders exposure to the global precious-metals industry through a single investment vehicle.

Founded in 1958 and incorporated in Bermuda, ASA Gold and Precious Metals Limited does not operate mines or sell physical metals directly.

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