ASA Gold and Precious Metals Limited (NYSE:ASA) Sees Significant Growth in Short Interest

ASA Gold and Precious Metals Limited (NYSE:ASA) was the target of a large growth in short interest in May. As of May 31st, there was short interest totalling 40,400 shares, a growth of 49.1% from the May 15th total of 27,100 shares. Based on an average daily trading volume, of 66,800 shares, the days-to-cover ratio is presently 0.6 days.

ASA Gold and Precious Metals Stock Performance

NYSE ASA traded up $0.13 during trading on Friday, hitting $17.30. 19,753 shares of the stock traded hands, compared to its average volume of 40,254. The firm has a 50-day simple moving average of $17.77 and a 200-day simple moving average of $15.89. ASA Gold and Precious Metals has a 12-month low of $12.80 and a 12-month high of $19.50.

ASA Gold and Precious Metals Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 6th were issued a dividend of $0.02 per share. This represents a yield of 0.1%. The ex-dividend date of this dividend was Friday, May 3rd. This is a boost from ASA Gold and Precious Metals’s previous Semi-Annual dividend of $0.01.

Hedge Funds Weigh In On 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. boosted its holdings in shares of ASA Gold and Precious Metals by 59.1% in the 3rd quarter. Saba Capital Management L.P. now owns 1,788,420 shares of the investment management company’s stock worth $23,840,000 after purchasing an additional 664,321 shares during the period. Raymond James & Associates boosted its holdings in shares of ASA Gold and Precious Metals by 14.5% in the 1st quarter. Raymond James & Associates now owns 730,894 shares of the investment management company’s stock worth $11,227,000 after purchasing an additional 92,458 shares during the period. Matisse Capital purchased a new position in shares of ASA Gold and Precious Metals in the 1st quarter worth approximately $715,000. International Assets Investment Management LLC purchased a new position in shares of ASA Gold and Precious Metals in the 4th quarter worth approximately $522,000. Finally, PFG Investments LLC bought a new stake in shares of ASA Gold and Precious Metals during the 1st quarter worth approximately $501,000.

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.