Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Purchases 7,866 Shares of Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. purchased 7,866 shares of the business’s stock in a transaction on Monday, December 15th. The shares were acquired at an average price of $58.10 per share, for a total transaction of $457,014.60. Following the completion of the purchase, the insider directly owned 5,336,757 shares of the company’s stock, valued at approximately $310,065,581.70. This trade represents a 0.15% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, December 12th, Saba Capital Management, L.P. acquired 13,696 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $57.85 per share, with a total value of $792,313.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. purchased 10,397 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $54.09 per share, with a total value of $562,373.73.
• On Monday, December 8th, Saba Capital Management, L.P. acquired 7,542 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $52.40 per share, for a total transaction of $395,200.80.
• On Friday, December 5th, Saba Capital Management, L.P. bought 8,002 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $53.22 per share, for a total transaction of $425,866.44.
• On Thursday, December 4th, Saba Capital Management, L.P. acquired 15,408 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $52.87 per share, for a total transaction of $814,620.96.
• On Wednesday, December 3rd, Saba Capital Management, L.P. acquired 9,576 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $53.37 per share, for a total transaction of $511,071.12.
• On Tuesday, December 2nd, Saba Capital Management, L.P. bought 8,078 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $52.82 per share, with a total value of $426,679.96.
• On Monday, December 1st, Saba Capital Management, L.P. bought 9,560 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $53.46 per share, for a total transaction of $511,077.60.
• On Tuesday, November 25th, Saba Capital Management, L.P. purchased 7,283 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $48.75 per share, for a total transaction of $355,046.25.
• On Friday, November 21st, Saba Capital Management, L.P. bought 9,784 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $46.94 per share, with a total value of $459,260.96.

ASA Gold and Precious Metals Stock Performance

ASA traded up $0.21 on Tuesday, reaching $57.49. The company’s stock had a trading volume of 65,611 shares, compared to its average volume of 94,835. ASA Gold and Precious Metals Limited has a fifty-two week low of $19.37 and a fifty-two week high of $59.25. The stock has a 50 day moving average of $49.19 and a two-hundred day moving average of $40.58.

ASA Gold and Precious Metals Dividend Announcement

The business also recently declared a semi-annual dividend, which was paid on Wednesday, November 19th. Investors of record on Wednesday, November 12th were paid a dividend of $0.03 per share. This represents a yield of 12.0%. The ex-dividend date was Wednesday, November 12th.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Institutional investors have recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. lifted its position in ASA Gold and Precious Metals by 56.3% during the 1st quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company’s stock worth $31,647,000 after acquiring an additional 378,327 shares during the period. Almitas Capital LLC acquired a new position in shares of ASA Gold and Precious Metals in the third quarter valued at approximately $15,359,000. Medici Capital LLC purchased a new stake in shares of ASA Gold and Precious Metals during the second quarter worth approximately $5,238,000. Landscape Capital Management L.L.C. acquired a new stake in shares of ASA Gold and Precious Metals during the third quarter worth $6,411,000. Finally, Sprott Inc. grew its position in ASA Gold and Precious Metals by 74.9% in the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company’s stock valued at $8,445,000 after buying an additional 120,000 shares during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a research note on Monday, December 8th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

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.