ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires $727,191.01 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 12,649 shares of the stock in a transaction dated Wednesday, December 17th. The shares were bought at an average cost of $57.49 per share, with a total value of $727,191.01. Following the completion of the acquisition, the insider directly owned 5,355,252 shares of the company’s stock, valued at approximately $307,873,437.48. The trade was a 0.24% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, December 16th, Saba Capital Management, L.P. purchased 5,846 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $57.02 per share, for a total transaction of $333,338.92.
• On Monday, December 15th, Saba Capital Management, L.P. purchased 7,866 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $58.10 per share, with a total value of $457,014.60.
• On Friday, December 12th, Saba Capital Management, L.P. purchased 13,696 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $57.85 per share, with a total value of $792,313.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. acquired 10,397 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $54.09 per share, for a total transaction of $562,373.73.
• On Monday, December 8th, Saba Capital Management, L.P. acquired 7,542 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $52.40 per share, for a total transaction of $395,200.80.
• On Friday, December 5th, Saba Capital Management, L.P. bought 8,002 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $53.22 per share, with a total value of $425,866.44.
• On Thursday, December 4th, Saba Capital Management, L.P. purchased 15,408 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $52.87 per share, for a total transaction of $814,620.96.
• On Wednesday, December 3rd, Saba Capital Management, L.P. purchased 9,576 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $53.37 per share, for a total transaction of $511,071.12.
• On Tuesday, December 2nd, Saba Capital Management, L.P. acquired 8,078 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $52.82 per share, with a total value of $426,679.96.
• On Monday, December 1st, Saba Capital Management, L.P. purchased 9,560 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $53.46 per share, with a total value of $511,077.60.

ASA Gold and Precious Metals Price Performance

Shares of NYSE ASA traded up $0.43 during midday trading on Thursday, reaching $58.06. 38,906 shares of the company traded hands, compared to its average volume of 94,770. The stock has a 50-day moving average price of $49.58 and a 200 day moving average price of $40.87. ASA Gold and Precious Metals Limited has a 52 week low of $19.46 and a 52 week high of $59.25.

ASA Gold and Precious Metals Announces Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th were issued a $0.03 dividend. The ex-dividend date was Wednesday, November 12th. This represents a dividend yield of 12.0%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a research note on Monday, December 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, ASA Gold and Precious Metals has a consensus rating of “Buy”.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several institutional investors and hedge funds have recently modified their holdings of ASA. Advisory Services Network LLC purchased a new stake in shares of ASA Gold and Precious Metals during the third quarter worth $55,000. JPMorgan Chase & Co. acquired a new stake in ASA Gold and Precious Metals in the second quarter valued at approximately $61,000. Savant Capital LLC acquired a new stake in ASA Gold and Precious Metals in the third quarter valued at approximately $220,000. Fruth Investment Management bought a new stake in ASA Gold and Precious Metals in the first quarter worth approximately $226,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of ASA Gold and Precious Metals by 143.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company’s stock worth $229,000 after purchasing an additional 4,272 shares during the last quarter.

About ASA Gold and Precious Metals

ASA Gold and Precious Metals Limited is a publicly owned investment manager. The firm invests in the public equity markets across the globe. It primarily invests in stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds, or other precious minerals. It also invests in exchange traded funds.