Opinions
Brooke Thackray
ASA Ltd.
ASA-N
COMMENT
Jan 14, 2019
It has an industrial slant to it. It pulled back with the rest of the marketplace. Around $12-13 is the support. It is pulling back today which is not a good thing but we are starting on a seasonal period at the end of January. It should do okay.
$9.510
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He typically avoids mutual funds and prefers individual stocks, but as a closed-end fund, this has a limited number of securities. It is a basket of the gold miners. Owning gold in this environment with the heightened geopolitical risks, prepares your portfolio for the unexpected. Owning gold miners makes a lot of sense. As a closed-end fund, there are limited shares, and the fund will move up and down at a premium or discount to its NAV. Right now, this is trading at a 9% discount to its NAV. Closed end funds uses leverage to enhance its value, but this fund does not use any leverage.
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