ASA Gold and Precious Metals (NYSE:ASA) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $41.94 and traded as high as $47.55. ASA Gold and Precious Metals shares last traded at $44.92, with a volume of 323,413 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ASA Gold and Precious Metals in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

ASA Gold and Precious Metals Trading Down 10.4%

The firm’s 50 day moving average price is $41.94 and its two-hundred day moving average price is $35.05.

ASA Gold and Precious Metals Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 12th. This represents a dividend yield of 14.0%.

Insider Buying and Selling at ASA Gold and Precious Metals

In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. bought 11,566 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was acquired at an average price of $50.10 per share, for a total transaction of $579,456.60. Following the completion of the purchase, the insider owned 4,964,743 shares of the company’s stock, valued at approximately $248,733,624.30. This represents a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 1,554,822 shares of company stock worth $60,031,723 in the last three months. 1.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Several hedge funds have recently made changes to their positions in ASA. Zazove Associates LLC acquired a new stake in ASA Gold and Precious Metals in the third quarter valued at about $811,000. Osaic Holdings Inc. lifted its position in ASA Gold and Precious Metals by 128.4% in the second quarter. Osaic Holdings Inc. now owns 18,728 shares of the investment management company’s stock valued at $591,000 after purchasing an additional 10,528 shares during the period. Jane Street Group LLC acquired a new stake in ASA Gold and Precious Metals in the second quarter valued at about $383,000. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in ASA Gold and Precious Metals in the second quarter valued at about $370,000. Finally, Walleye Capital LLC lifted its position in ASA Gold and Precious Metals by 1.4% in the second quarter. Walleye Capital LLC now owns 24,871 shares of the investment management company’s stock valued at $785,000 after purchasing an additional 341 shares during the period.

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.