ASA Gold and Precious Metals (NYSE:ASA) Shares Gap Down – Here’s Why

ASA Gold and Precious Metals Limited (NYSE:ASA) shares gapped down before the market opened on Monday. The stock had previously closed at $53.90, but opened at $51.92. ASA Gold and Precious Metals shares last traded at $52.6340, with a volume of 4,340 shares trading hands.

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, October 8th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, ASA Gold and Precious Metals presently has an average rating of “Buy”.

ASA Gold and Precious Metals Trading Down 0.7%

The business’s 50 day simple moving average is $58.74 and its 200 day simple moving average is $58.99.

ASA Gold and Precious Metals Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, November 12th. Shareholders of record on Thursday, November 5th will be given a $0.05 dividend. This represents a dividend yield of 19.0%. The ex-dividend date is Thursday, November 5th.

Institutional Trading of ASA Gold and Precious Metals

Hedge funds and other institutional investors have recently modified their holdings of the company. Tidal Investments LLC bought a new position in ASA Gold and Precious Metals in the 2nd quarter worth $310,000. Integrated Wealth Concepts LLC increased its stake in 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 worth $632,000 after buying an additional 443 shares in the last quarter. Trust Co. of Vermont purchased a new stake in ASA Gold and Precious Metals in the 2nd quarter worth $47,000. Zazove Associates LLC raised its holdings in ASA Gold and Precious Metals by 3.2% during the first quarter. Zazove Associates LLC now owns 32,655 shares of the investment management company’s stock valued at $2,026,000 after acquiring an additional 1,000 shares during the period. Finally, Royal Bank of Canada raised its holdings in ASA Gold and Precious Metals by 882.4% during the first quarter. Royal Bank of Canada now owns 360,577 shares of the investment management company’s stock valued at $22,366,000 after acquiring an additional 323,875 shares during the period.

About ASA Gold and Precious Metals

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.