Asanko Gold Inc (NYSEAMERICAN:AKG) (TSE:AKG) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 319,517 shares, a growth of 30.1% from the April 15th total of 245,659 shares. Based on an average daily trading volume, of 254,170 shares, the days-to-cover ratio is presently 1.3 days.
Separately, Zacks Investment Research downgraded Asanko Gold from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 15th.
Shares of AKG traded down $0.01 during midday trading on Tuesday, hitting $0.57. The stock had a trading volume of 8,100 shares, compared to its average volume of 238,515. Asanko Gold has a twelve month low of $0.56 and a twelve month high of $1.28.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its holdings in shares of Asanko Gold by 9.0% during the third quarter. Renaissance Technologies LLC now owns 4,250,309 shares of the basic materials company’s stock valued at $3,430,000 after purchasing an additional 350,209 shares during the period. Jane Street Group LLC boosted its stake in Asanko Gold by 168.9% during the third quarter. Jane Street Group LLC now owns 135,713 shares of the basic materials company’s stock worth $110,000 after acquiring an additional 85,241 shares in the last quarter. Ruffer LLP bought a new stake in Asanko Gold during the fourth quarter worth about $12,581,000. Donald Smith & CO. Inc. boosted its stake in Asanko Gold by 6.4% during the fourth quarter. Donald Smith & CO. Inc. now owns 22,600,747 shares of the basic materials company’s stock worth $14,433,000 after acquiring an additional 1,367,823 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Asanko Gold during the fourth quarter worth about $119,000.
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About Asanko Gold
Asanko Gold Inc engages in the exploration, development, and production of gold properties. Its principal project is the Asanko Gold Mine, which consists of two gold projects, such as the Obotan Project and the Esaase Project located in the Amansie West District of the Republic of Ghana, West Africa.
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