Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires $517,523.26 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. purchased 8,782 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were purchased at an average cost of $58.93 per share, for a total transaction of $517,523.26. Following the purchase, the insider directly owned 5,400,495 shares in the company, valued at $318,251,170.35. This trade represents a 0.16% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 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, January 5th, Saba Capital Management, L.P. bought 8,770 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $60.32 per share, with a total value of $529,006.40.
• On Wednesday, December 31st, Saba Capital Management, L.P. acquired 9,112 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $59.99 per share, with a total value of $546,628.88.
• On Tuesday, December 30th, Saba Capital Management, L.P. bought 6,892 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $60.34 per share, for a total transaction of $415,863.28.
• On Monday, December 29th, Saba Capital Management, L.P. purchased 10,111 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $58.81 per share, with a total value of $594,627.91.
• On Friday, December 26th, Saba Capital Management, L.P. purchased 714 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $61.92 per share, with a total value of $44,210.88.
• On Wednesday, December 24th, Saba Capital Management, L.P. purchased 467 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $60.76 per share, for a total transaction of $28,374.92.
• On Tuesday, December 23rd, Saba Capital Management, L.P. acquired 2,524 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $61.75 per share, for a total transaction of $155,857.00.
• On Monday, December 22nd, Saba Capital Management, L.P. bought 2,760 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $60.85 per share, with a total value of $167,946.00.
• On Thursday, December 18th, Saba Capital Management, L.P. bought 3,881 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $57.52 per share, for a total transaction of $223,235.12.
• On Wednesday, December 17th, Saba Capital Management, L.P. purchased 12,649 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $57.49 per share, for a total transaction of $727,191.01.

ASA Gold and Precious Metals Price Performance

Shares of ASA Gold and Precious Metals stock opened at $61.68 on Thursday. The business has a 50-day moving average price of $53.45 and a 200 day moving average price of $43.70. ASA Gold and Precious Metals Limited has a fifty-two week low of $21.17 and a fifty-two week high of $63.02.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in ASA Gold and Precious Metals in the third quarter valued at $55,000. JPMorgan Chase & Co. acquired a new stake in shares of ASA Gold and Precious Metals in the second quarter valued at approximately $61,000. Savant Capital LLC bought a new stake in shares of ASA Gold and Precious Metals during the third quarter valued at approximately $220,000. Fruth Investment Management acquired a new position in shares of ASA Gold and Precious Metals during the first quarter worth approximately $226,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in ASA Gold and Precious Metals by 143.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company’s stock worth $229,000 after buying an additional 4,272 shares in the last quarter.

Analyst Upgrades and Downgrades

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

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.