ASA Gold and Precious Metals Limited (NYSE:ASA) Stock Short Interest Report for September

Key Points

• Short interest surged 553.7% in September to 20,127 shares, though only about 0.1% of ASA’s shares are sold short and the short-interest ratio remains low at 0.3 days.
• ASA shares rose 1.0% to $56.37 during Friday trading, well within their 52-week range of $43.20 to $83.20 and below both their 50-day and 200-day moving averages near $59.
• Weiss Ratings upgraded ASA to “buy (b),” reinforcing the stock’s overall “Buy” consensus. Institutional activity was mixed but included Royal Bank of Canada’s 882.4% increase in its position during the first quarter.

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 September. As of September 30th, there was short interest totaling 20,127 shares, an increase of 553.7% from the September 15th total of 3,079 shares. Approximately 0.1% of the company's shares are sold short. Based on an average daily volume of 59,700 shares, the short-interest ratio is currently 0.3 days.

ASA Gold and Precious Metals Trading Up 1.0%

NYSE ASA traded up $0.57 during mid-day trading on Friday, hitting $56.37. The company's stock had a trading volume of 50,315 shares, compared to its average volume of 51,785. ASA Gold and Precious Metals has a 52-week low of $43.20 and a 52-week high of $83.20. The stock's fifty day simple moving average is $59.04 and its two-hundred day simple moving average is $59.30.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded ASA Gold and Precious Metals from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has a consensus rating of "Buy".

Hedge Funds Weigh In On ASA Gold and Precious Metals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC acquired a new stake in ASA Gold and Precious Metals in the 2nd quarter valued at $310,000. Integrated Wealth Concepts LLC lifted its stake in shares of ASA Gold and Precious Metals by 3.8% during the second quarter. Integrated Wealth Concepts LLC now owns 12,143 shares of the investment management company's stock worth $632,000 after purchasing an additional 443 shares in the last quarter. Trust Co. of Vermont acquired a new position in shares of ASA Gold and Precious Metals during the second quarter worth about $47,000. Zazove Associates LLC boosted its position in shares of ASA Gold and Precious Metals by 3.2% in the first quarter. Zazove Associates LLC now owns 32,655 shares of the investment management company's stock worth $2,026,000 after buying an additional 1,000 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of ASA Gold and Precious Metals by 882.4% in the first 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 period.

ASA Gold and Precious Metals Company Profile

ASA Gold and Precious Metals Limited NYSE: ASA is a closed-end investment company focused on the global precious-metals sector. The fund seeks long-term capital appreciation by investing primarily in companies involved in the exploration, development, and production of gold, silver, platinum-group metals, and other precious metals.

Its portfolio generally consists of publicly traded mining and metals companies, including producers, developers, and exploration companies. ASA may also invest in businesses that provide related exposure to precious-metals prices and the mining industry.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.