Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Buys 6,788 Shares of Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 6,788 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average cost of $66.45 per share, with a total value of $451,062.60. Following the completion of the transaction, the insider owned 5,610,027 shares of the company’s stock, valued at $372,786,294.15. This represents a 0.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, February 3rd, Saba Capital Management, L.P. purchased 28,333 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $66.14 per share, for a total transaction of $1,873,944.62.
• On Monday, February 2nd, Saba Capital Management, L.P. purchased 8,466 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $64.27 per share, with a total value of $544,109.82.
• On Friday, January 30th, Saba Capital Management, L.P. acquired 21,708 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $65.56 per share, with a total value of $1,423,176.48.
• On Thursday, January 29th, Saba Capital Management, L.P. acquired 17,075 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $74.59 per share, with a total value of $1,273,624.25.
• On Wednesday, January 28th, Saba Capital Management, L.P. bought 57,165 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $75.32 per share, for a total transaction of $4,305,667.80.
• On Tuesday, January 27th, Saba Capital Management, L.P. bought 3,730 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $73.15 per share, for a total transaction of $272,849.50.
• On Monday, January 26th, Saba Capital Management, L.P. purchased 1,400 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $72.90 per share, with a total value of $102,060.00.
• On Tuesday, January 20th, Saba Capital Management, L.P. acquired 3,723 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $66.08 per share, for a total transaction of $246,015.84.
• On Friday, January 16th, Saba Capital Management, L.P. bought 4,541 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $63.63 per share, with a total value of $288,943.83.
• On Thursday, January 15th, Saba Capital Management, L.P. bought 4,654 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $63.35 per share, with a total value of $294,830.90.

ASA Gold and Precious Metals Stock Down 4.8%

Shares of ASA traded down $3.21 during trading hours on Thursday, reaching $64.15. 75,394 shares of the stock traded hands, compared to its average volume of 149,591. ASA Gold and Precious Metals Limited has a 52 week low of $23.93 and a 52 week high of $78.21. The stock has a fifty day simple moving average of $61.37 and a 200 day simple moving average of $48.60.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research note on Monday, December 29th. 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”.

Institutional Trading of ASA Gold and Precious Metals

A number of large investors have recently bought and sold shares of the company. Almitas Capital LLC bought a new stake in shares of ASA Gold and Precious Metals in the third quarter valued at $15,359,000. Landscape Capital Management L.L.C. purchased a new stake in ASA Gold and Precious Metals in the 3rd quarter worth about $6,411,000. Blue Bell Private Wealth Management LLC raised its stake in ASA Gold and Precious Metals by 9.3% in the 3rd 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. Private Advisor Group LLC raised its stake in ASA Gold and Precious Metals by 3.2% in the 3rd quarter. Private Advisor Group LLC now owns 84,157 shares of the investment management company’s stock valued at $3,854,000 after acquiring an additional 2,622 shares during the period. Finally, Noble Wealth Management PBC lifted its holdings in ASA Gold and Precious Metals by 61.7% during the fourth quarter. Noble Wealth Management PBC now owns 73,354 shares of the investment management company’s stock valued at $4,377,000 after purchasing an additional 27,987 shares during the last quarter.

ASA Gold and Precious Metals Company Profile

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.