Saba Capital Management, L.P. Buys 50,560 Shares of ASA Gold and Precious Metals (NYSE:ASA) Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 50,560 shares of the company’s stock in a transaction dated Friday, February 13th. The stock was acquired at an average price of $71.50 per share, for a total transaction of $3,615,040.00. Following the acquisition, the insider directly owned 5,903,701 shares in the company, valued at $422,114,621.50. This trade represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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 Thursday, February 12th, Saba Capital Management, L.P. purchased 83,533 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $69.69 per share, with a total value of $5,821,414.77.
• On Wednesday, February 11th, Saba Capital Management, L.P. acquired 40,222 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $72.09 per share, for a total transaction of $2,899,603.98.
• On Tuesday, February 10th, Saba Capital Management, L.P. bought 62,201 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $71.10 per share, with a total value of $4,422,491.10.
• 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 shares were bought at an average price of $65.91 per share, for a total transaction 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 purchased at an average price of $66.45 per share, with a total value of $451,062.60.
• On Tuesday, February 3rd, Saba Capital Management, L.P. acquired 28,333 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost 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 price of $64.27 per share, for a total transaction of $544,109.82.
• On Friday, January 30th, Saba Capital Management, L.P. bought 21,708 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $65.56 per share, for a total transaction of $1,423,176.48.

ASA Gold and Precious Metals Stock Down 5.5%

Shares of ASA Gold and Precious Metals stock traded down $3.97 during trading on Tuesday, hitting $67.54. 111,196 shares of the stock traded hands, compared to its average volume of 151,507. The company has a fifty day moving average price of $64.03 and a two-hundred day moving average price of $50.77. ASA Gold and Precious Metals Limited has a twelve month low of $23.93 and a twelve month high of $78.21.

Institutional Trading of ASA Gold and Precious Metals

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its holdings in ASA Gold and Precious Metals by 2.8% in the 4th quarter. Osaic Holdings Inc. now owns 18,637 shares of the investment management company’s stock valued at $1,112,000 after buying an additional 507 shares during the last quarter. Mangrove Partners IM LLC acquired a new position in shares of ASA Gold and Precious Metals during the fourth quarter worth approximately $493,000. MML Investors Services LLC bought a new stake in shares of ASA Gold and Precious Metals in the fourth quarter valued at approximately $234,000. Kestra Advisory Services LLC acquired a new stake in shares of ASA Gold and Precious Metals in the fourth quarter worth $58,000. Finally, Stifel Financial Corp acquired a new stake in shares of ASA Gold and Precious Metals in the fourth quarter worth $220,000.

Wall Street Analysts Forecast Growth

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

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.