Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires $1,256,280.00 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 28,500 shares of the stock in a transaction dated Monday, October 27th. The shares were purchased at an average price of $44.08 per share, with a total value of $1,256,280.00. Following the completion of the transaction, the insider directly owned 5,079,840 shares in the company, valued at approximately $223,919,347.20. The trade was a 0.56% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own 10% or more 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 Wednesday, October 29th, Saba Capital Management, L.P. bought 9,128 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $45.32 per share, with a total value of $413,680.96.
• On Tuesday, October 28th, Saba Capital Management, L.P. bought 12,847 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $45.32 per share, with a total value of $582,226.04.
• On Friday, October 24th, Saba Capital Management, L.P. bought 22,335 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $45.97 per share, with a total value of $1,026,739.95.
• On Thursday, October 23rd, Saba Capital Management, L.P. bought 19,172 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $46.22 per share, with a total value of $886,129.84.
• On Wednesday, October 22nd, Saba Capital Management, L.P. bought 20,540 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $44.77 per share, with a total value of $919,575.80.
• On Tuesday, October 21st, Saba Capital Management, L.P. bought 24,550 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $45.20 per share, with a total value of $1,109,660.00.
• On Monday, October 20th, Saba Capital Management, L.P. bought 11,566 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $50.10 per share, with a total value of $579,456.60.
• On Wednesday, October 15th, Saba Capital Management, L.P. bought 13,170 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $51.71 per share, with a total value of $681,020.70.
• On Tuesday, October 14th, Saba Capital Management, L.P. purchased 31,833 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $50.01 per share, with a total value of $1,591,968.33.
• On Monday, October 13th, Saba Capital Management, L.P. purchased 8,437 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $49.02 per share, with a total value of $413,581.74.

ASA Gold and Precious Metals Stock Performance

Shares of ASA opened at $46.47 on Friday. The business has a fifty day moving average of $43.48 and a 200 day moving average of $35.99. ASA Gold and Precious Metals Limited has a 52-week low of $19.37 and a 52-week high of $53.76.

ASA Gold and Precious Metals Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th will be given a $0.03 dividend. The ex-dividend date is Wednesday, November 12th. This represents a yield of 14.0%.

Institutional Trading of ASA Gold and Precious Metals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC purchased a new stake in ASA Gold and Precious Metals in the second quarter worth $231,000. Atria Wealth Solutions Inc. purchased a new stake in ASA Gold and Precious Metals in the first quarter worth $235,000. Private Advisor Group LLC increased its stake in ASA Gold and Precious Metals by 57.7% in the first quarter. Private Advisor Group LLC now owns 82,054 shares of the investment management company’s stock worth $2,473,000 after purchasing an additional 30,024 shares during the period. Cetera Investment Advisers increased its stake in ASA Gold and Precious Metals by 223.9% in the first quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company’s stock worth $5,692,000 after purchasing an additional 130,547 shares during the period. Finally, Sessa Capital IM L.P. increased its stake in ASA Gold and Precious Metals by 56.3% in the first quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company’s stock worth $31,647,000 after purchasing an additional 378,327 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a research report on Thursday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, ASA Gold and Precious Metals currently has a consensus rating of “Buy”.

ASA Gold and Precious Metals Company Profile

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.