ASA Gold and Precious Metals (NYSE:ASA) Hits New 52-Week High Following Insider Buying Activity

ASA Gold and Precious Metals Limited (NYSE:ASA) shares reached a new 52-week high during mid-day trading on Monday following insider buying activity. The company traded as high as $63.91 and last traded at $63.9450, with a volume of 6695 shares trading hands. The stock had previously closed at $61.86.

Specifically, major shareholder Saba Capital Management, L.P. acquired 4,152 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was acquired at an average cost of $62.03 per share, with a total value of $257,548.56. Following the acquisition, the insider directly owned 5,422,774 shares of the company’s stock, valued at $336,374,671.22. This represents a 0.08% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Saba Capital Management, L.P. bought 3,598 shares of the stock in a transaction on Wednesday, January 7th. The shares were bought at an average cost of $59.78 per share, for a total transaction of $215,088.44. Following the purchase, the insider owned 5,416,143 shares in the company, valued at $323,777,028.54. This trade represents a 0.07% increase in their position. The SEC filing for this purchase provides additional information. In other news, major shareholder Saba Capital Management, L.P. acquired 3,280 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were bought at an average price of $61.80 per share, with a total value of $202,704.00. Following the purchase, the insider owned 5,412,545 shares of the company’s stock, valued at approximately $334,495,281. This represents a 0.06% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of ASA Gold and Precious Metals in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

ASA Gold and Precious Metals Trading Up 3.4%

The business has a 50-day moving average of $54.05 and a 200-day moving average of $44.20.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Zazove Associates LLC acquired a new position in ASA Gold and Precious Metals during the 3rd quarter valued at $811,000. Wealth Enhancement Advisory Services LLC acquired a new stake in ASA Gold and Precious Metals during the second quarter valued at approximately $231,000. Blue Bell Private Wealth Management LLC grew its position in ASA Gold and Precious Metals by 9.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 138,355 shares of the investment management company’s stock valued at $6,337,000 after acquiring an additional 11,808 shares during the period. Medici Capital LLC bought a new stake in shares of ASA Gold and Precious Metals in the 2nd quarter worth about $5,238,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of ASA Gold and Precious Metals during the second quarter worth approximately $1,213,000.

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.