ASA Gold and Precious Metals (NYSE:ASA) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $64.19 and traded as low as $59.90. ASA Gold and Precious Metals shares last traded at $60.68, with a volume of 88,763 shares trading hands.

Analyst Upgrades and Downgrades

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

ASA Gold and Precious Metals Stock Up 5.7%

The firm’s 50 day moving average is $63.86 and its two-hundred day moving average is $64.19.

ASA Gold and Precious Metals Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ASA. Saba Capital Management L.P. raised its stake in ASA Gold and Precious Metals by 15.8% in the 4th quarter. Saba Capital Management L.P. now owns 5,391,713 shares of the investment management company’s stock valued at $321,724,000 after purchasing an additional 735,036 shares during the last quarter. Almitas Capital LLC acquired a new position in shares of ASA Gold and Precious Metals during the 3rd quarter valued at about $15,359,000. Royal Bank of Canada increased its stake in shares of 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 valued at $22,366,000 after acquiring an additional 323,875 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of ASA Gold and Precious Metals during the 3rd quarter valued at about $6,411,000. Finally, Altium Capital Management LLC acquired a new position in shares of ASA Gold and Precious Metals during the 4th quarter valued at about $3,116,000.

About ASA Gold and Precious Metals

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.