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

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA) gapped down before the market opened on Monday . The stock had previously closed at $62.24, but opened at $56.92. ASA Gold and Precious Metals shares last traded at $57.1610, with a volume of 27,045 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded ASA Gold and Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday. One analyst has rated the stock with a Buy rating, According to MarketBeat, ASA Gold and Precious Metals presently has an average rating of “Buy”.

ASA Gold and Precious Metals Price Performance

The firm has a 50-day moving average price of $64.39 and a 200 day moving average price of $63.82.

ASA Gold and Precious Metals Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, May 13th. Stockholders of record on Friday, May 1st were given a $0.04 dividend. The ex-dividend date was Friday, May 1st. This represents a dividend yield of 13.0%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ASA. Noble Wealth Management PBC boosted its position in ASA Gold and Precious Metals by 61.7% during the 4th quarter. Noble Wealth Management PBC now owns 73,354 shares of the investment management company’s stock valued at $4,377,000 after purchasing an additional 27,987 shares during the period. Advisor OS LLC acquired a new position in ASA Gold and Precious Metals during the 3rd quarter valued at approximately $471,000. Almitas Capital LLC acquired a new position in ASA Gold and Precious Metals during the 3rd quarter valued at approximately $15,359,000. Landscape Capital Management L.L.C. acquired a new position in ASA Gold and Precious Metals during the 3rd quarter valued at approximately $6,411,000. Finally, Altium Capital Management LLC acquired a new position in ASA Gold and Precious Metals during the 4th quarter valued at approximately $3,116,000.

ASA Gold and Precious Metals Company Profile

ASA Gold & Precious Metals Limited, trading on the New York Stock Exchange under the ticker ASA, is a closed-end investment company dedicated to providing shareholders with targeted exposure to the precious metals sector. Established in 1959 and domiciled in Guernsey, the company aims to combine dividend income with the potential for long-term capital appreciation by investing in a diversified suite of gold, silver, platinum and palladium assets.

The firm’s core activities involve constructing and managing a portfolio that blends equity positions in precious metals mining companies with direct holdings of physical bullion.