ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires 62,201 Shares

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 62,201 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The stock was bought at an average price of $71.10 per share, for a total transaction of $4,422,491.10. Following the completion of the acquisition, the insider directly owned 5,729,386 shares in the company, valued at approximately $407,359,344.60. The trade was a 1.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Monday, February 9th, Saba Capital Management, L.P. bought 25,939 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $69.99 per share, with a total value of $1,815,470.61.
• On Friday, February 6th, Saba Capital Management, L.P. purchased 15,796 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $65.91 per share, with a total value of $1,041,114.36.
• On Thursday, February 5th, Saba Capital Management, L.P. purchased 15,423 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $64.31 per share, for a total transaction of $991,853.13.
• On Wednesday, February 4th, Saba Capital Management, L.P. acquired 6,788 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $66.45 per share, for a total transaction of $451,062.60.
• On Tuesday, February 3rd, Saba Capital Management, L.P. bought 28,333 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $66.14 per share, with a total value of $1,873,944.62.
• On Monday, February 2nd, Saba Capital Management, L.P. bought 8,466 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $64.27 per share, for a total transaction of $544,109.82.
• On Friday, January 30th, Saba Capital Management, L.P. purchased 21,708 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price 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 purchased 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 shares were purchased at an average cost 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 stock was acquired at an average cost of $73.15 per share, with a total value of $272,849.50.

ASA Gold and Precious Metals Stock Performance

Shares of ASA stock traded up $0.74 on Wednesday, reaching $72.21. 132,023 shares of the company’s stock traded hands, compared to its average volume of 150,963. ASA Gold and Precious Metals Limited has a 12-month low of $23.93 and a 12-month high of $78.21. The business’s 50 day moving average price is $62.58 and its two-hundred day moving average price is $49.67.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Almitas Capital LLC acquired a new stake in shares of ASA Gold and Precious Metals during the 3rd quarter valued at about $15,359,000. Blue Bell Private Wealth Management LLC lifted its stake in ASA Gold and Precious Metals by 3.6% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 143,341 shares of the investment management company’s stock valued at $8,553,000 after acquiring an additional 4,986 shares during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in ASA Gold and Precious Metals in the third quarter valued at approximately $6,411,000. Private Advisor Group LLC increased its stake in shares of ASA Gold and Precious Metals by 3.2% during the 3rd quarter. Private Advisor Group LLC now owns 84,157 shares of the investment management company’s stock worth $3,854,000 after purchasing an additional 2,622 shares during the last quarter. Finally, Noble Wealth Management PBC increased its stake in shares of ASA Gold and Precious Metals by 61.7% during the 4th quarter. Noble Wealth Management PBC now owns 73,354 shares of the investment management company’s stock worth $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.