ASA Gold and Precious Metals Limited (NYSE:ASA) Short Interest Down 35.1% in August

Key Points

• The short interest in ASA Gold and Precious Metals Limited decreased by 35.1% in August, with total short interest dropping from 48,700 to 31,600 shares.
• Major shareholder Saba Capital Management purchased 354,169 shares at an average price of $35.39, increasing their stake by 9.61%.
• A number of hedge funds have recently shown increased interest in ASA, with notable positions being established by NBC Securities Inc. and Wealth Enhancement Advisory Services LLC in the last two quarters.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 31,600 shares, a decline of 35.1% from the August 15th total of 48,700 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 106,500 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 106,500 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

Insider Transactions at ASA Gold and Precious Metals

In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. bought 91,385 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was bought at an average cost of $41.50 per share, for a total transaction of $3,792,477.50. Following the completion of the transaction, the insider owned 4,625,028 shares of the company's stock, valued at $191,938,662. This represents a 2.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 1,320,879 shares of company stock worth $48,987,296 in the last three months. Insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of hedge funds have recently modified their holdings of ASA. Osaic Holdings Inc. raised its stake in ASA Gold and Precious Metals by 128.4% during the second quarter. Osaic Holdings Inc. now owns 18,728 shares of the investment management company's stock valued at $591,000 after purchasing an additional 10,528 shares in the last quarter. Jane Street Group LLC purchased a new stake in ASA Gold and Precious Metals during the second quarter valued at $383,000. Dymon Asia Capital Singapore PTE. LTD. purchased a new stake in ASA Gold and Precious Metals during the second quarter valued at $370,000. Walleye Capital LLC raised its stake in ASA Gold and Precious Metals by 1.4% during the second quarter. Walleye Capital LLC now owns 24,871 shares of the investment management company's stock valued at $785,000 after purchasing an additional 341 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its stake in ASA Gold and Precious Metals by 3,057.0% during the second quarter. Laurel Wealth Advisors LLC now owns 31,570 shares of the investment management company's stock valued at $1,000,000 after purchasing an additional 30,570 shares in the last quarter.

ASA Gold and Precious Metals Stock Performance

NYSE ASA traded up $1.24 during trading hours on Friday, hitting $42.21. 80,475 shares of the company's stock traded hands, compared to its average volume of 86,173. The business's fifty day moving average price is $35.68 and its two-hundred day moving average price is $31.93. ASA Gold and Precious Metals has a 52 week low of $19.37 and a 52 week high of $42.29.

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.