ASA Gold and Precious Metals (NYSE:ASA) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $60.64 and traded as low as $57.68. ASA Gold and Precious Metals shares last traded at $58.5550, with a volume of 102,952 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of ASA Gold and Precious Metals in a research note on Monday, August 31st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, ASA Gold and Precious Metals currently has a consensus rating of “Buy”.

ASA Gold and Precious Metals Stock Up 0.2%

The company’s 50 day simple moving average is $57.18 and its two-hundred day simple moving average is $60.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new stake in ASA Gold and Precious Metals in the second quarter worth about $310,000. Integrated Wealth Concepts LLC raised its position in shares of 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 valued at $632,000 after purchasing an additional 443 shares during the last quarter. Trust Co. of Vermont purchased a new position in shares of ASA Gold and Precious Metals in the 2nd quarter valued at approximately $47,000. Zazove Associates LLC boosted its stake in ASA Gold and Precious Metals by 3.2% in the 1st quarter. Zazove Associates LLC now owns 32,655 shares of the investment management company’s stock worth $2,026,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Royal Bank of Canada grew its position in ASA Gold and Precious Metals by 882.4% during the 1st quarter. Royal Bank of Canada now owns 360,577 shares of the investment management company’s stock worth $22,366,000 after purchasing an additional 323,875 shares during the last quarter.

ASA Gold and Precious Metals Company Profile

ASA Gold and Precious Metals Limited (NYSE:ASA) is a closed-end investment company that seeks long-term capital appreciation by investing primarily in companies involved in the exploration, mining, and processing of gold and other precious metals.

The fund’s portfolio may include businesses associated with gold, silver, platinum-group metals, diamonds, and other precious minerals. Its investments can span mining companies and related enterprises in established and emerging resource-producing regions around the world, giving shareholders exposure to the global precious-metals industry through a single investment vehicle.

Founded in 1958 and incorporated in Bermuda, ASA Gold and Precious Metals Limited does not operate mines or sell physical metals directly.