ASA Gold and Precious Metals (NYSE:ASA) Shares Gap Down – Time to Sell?

ASA Gold and Precious Metals Limited (NYSE:ASA) shares 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 changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings lowered ASA Gold and Precious Metals from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

ASA Gold and Precious Metals Stock Down 2.6%

The firm’s fifty day moving average is $64.30 and its two-hundred day moving average is $63.93.

ASA Gold and Precious Metals Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, May 13th. Investors of record on Friday, May 1st were paid a $0.04 dividend. This represents a yield of 13.0%. The ex-dividend date of this dividend was Friday, May 1st.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of institutional investors have recently bought and sold shares of the stock. Noble Wealth Management PBC boosted its position in shares of ASA Gold and Precious Metals by 61.7% during the fourth 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 in the last quarter. Advisor OS LLC bought a new stake in shares of ASA Gold and Precious Metals during the third quarter valued at approximately $471,000. Almitas Capital LLC bought a new stake in shares of ASA Gold and Precious Metals during the third quarter valued at approximately $15,359,000. Landscape Capital Management L.L.C. bought a new stake in shares of ASA Gold and Precious Metals during the third quarter valued at approximately $6,411,000. Finally, Altium Capital Management LLC bought a new stake in shares of ASA Gold and Precious Metals during the fourth 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.