Short Interest in ASA Gold and Precious Metals Limited (NYSE:ASA) Drops By 35.1%

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 - ) was the recipient of a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 31,600 shares, a decrease of 35.1% from the August 15th total of 48,700 shares. Based on an average daily trading volume, of 106,500 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are short sold. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 106,500 shares, the short-interest ratio is presently 0.3 days.

ASA Gold and Precious Metals Trading Up 0.5%

Shares of NYSE:ASA opened at $40.90 on Monday. The company has a 50-day moving average price of $34.95 and a two-hundred day moving average price of $31.57. ASA Gold and Precious Metals has a twelve month low of $19.37 and a twelve month high of $41.50.

Insider Buying and Selling at ASA Gold and Precious Metals

In other news, major shareholder Saba Capital Management, L.P. acquired 354,169 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average price of $35.39 per share, with a total value of $12,534,040.91. Following the acquisition, the insider owned 4,040,715 shares in the company, valued at $143,000,903.85. The trade was a 9.61% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders acquired 1,006,746 shares of company stock worth $36,123,021. 0.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ASA. NBC Securities Inc. lifted its position in shares of ASA Gold and Precious Metals by 128,600.0% during the first quarter. NBC Securities Inc. now owns 1,287 shares of the investment management company's stock worth $38,000 after acquiring an additional 1,286 shares in the last quarter. JPMorgan Chase & Co. bought a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter valued at $61,000. Wealth Enhancement Advisory Services LLC purchased a new stake in ASA Gold and Precious Metals during the 2nd quarter worth about $231,000. Steward Partners Investment Advisory LLC boosted its stake in ASA Gold and Precious Metals by 143.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company's stock worth $229,000 after purchasing an additional 4,272 shares during the period. Finally, Wealthcare Advisory Partners LLC bought a new position in ASA Gold and Precious Metals in the 1st quarter worth about $220,000.

About ASA Gold and Precious Metals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.