Wells Fargo Cuts ASA Gold & Precious Metals Stake to 6.5%

TL;DR

**Wells Fargo trimmed its stake in ASA Gold & Precious Metals to 6.5%.**

AI Summary

Wells Fargo & Company, a major financial institution, filed an amended SC 13G/A on February 6, 2024, disclosing its ownership in ASA Gold & Precious Metals Ltd. As of December 31, 2023, Wells Fargo reported beneficial ownership of 1,230,869 shares, representing 6.5% of the company's Closed-End Fund securities. This filing indicates a slight decrease in their reported stake from previous filings, which could signal a shift in their investment strategy or portfolio rebalancing, potentially impacting investor sentiment for ASA Gold & Precious Metals Ltd.

Why It Matters

This filing shows a significant institutional investor, Wells Fargo, has adjusted its position in ASA Gold & Precious Metals, which can influence market perception and other investors' decisions.

Risk Assessment

Risk Level: low — This filing is an update on an existing institutional holding and does not indicate any immediate, drastic changes to the company's operations or financial health.

Analyst Insight

An investor should monitor future filings from Wells Fargo and other major institutions to understand broader sentiment towards ASA Gold & Precious Metals Ltd and the precious metals sector, and consider if this change aligns with their own investment thesis.

Key Numbers

• 1,230,869 — Shares Beneficially Owned (Represents the total number of shares of ASA Gold & Precious Metals Ltd's Closed-End Fund securities held by Wells Fargo & Company as of December 31, 2023.)
• 6.5% — Ownership Percentage (Indicates the percentage of the class of securities that Wells Fargo & Company beneficially owns, showing their significant, but reduced, stake.)

Key Players & Entities

• Wells Fargo & Company (company) — the reporting person and institutional investor
• ASA Gold & Precious Metals Ltd (company) — the subject company (issuer) in which shares are held
• 1,230,869 (dollar_amount) — number of shares beneficially owned by Wells Fargo
• 6.5% (dollar_amount) — percentage of the class of securities beneficially owned by Wells Fargo
• December 31, 2023 (date) — the date of the event requiring the filing
• February 6, 2024 (date) — the filing date of the SC 13G/A amendment

Forward-Looking Statements

• Other institutional investors may re-evaluate their positions in ASA Gold & Precious Metals Ltd. (ASA Gold & Precious Metals Ltd) — medium confidence, target: Q1 2024
• The stock price of ASA Gold & Precious Metals Ltd might experience minor volatility due to this disclosure. (ASA Gold & Precious Metals Ltd) — low confidence, target: February 2024

FAQ

Filing Documents

• wf_asagold_G3156P103.htm (SC 13G/A) — 17KB
• 0000072971-24-000044.txt ( ) — 19KB

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 33,591 (b) Percent of class: 0.2% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 1 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 33,591 (iv) Shared power to dispose or to direct the disposition of: 0

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X].

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. See Exhibit B

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not applicable.

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 6, 2024 WELLS FARGO & COMPANY /s/ Patricia Arce Signature Patricia Arce, Designated Signer Name/Title Exhibit A EXPLANATORY NOTE This Schedule 13G is filed by Wells Fargo & Company on its own behalf and on behalf of any subsidiaries listed in Exhibit B. Aggregate beneficial ownership reported by Wells Fargo & Company under Item 9 on page 2 is on a consolidated basis and includes any beneficial ownership separately reported herein by a subsidiary. Exhibit B The Schedule 13G to which this attachment is appended is filed by Wells Fargo & Company on behalf of the following subsidiaries: Wells Fargo Clearing Services, LLC (1) (1) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78c)

View Full Filing

View this SC 13G/A filing on SEC EDGAR