ASA Gold and Precious Metals (NYSE:ASA) Reaches New 52-Week High – What’s Next?

ASA Gold and Precious Metals Limited (NYSE:ASA) shares hit a new 52-week high on Wednesday . The company traded as high as $79.00 and last traded at $77.80, with a volume of 8200 shares trading hands. The stock had previously closed at $77.32.

Analyst Upgrades and Downgrades

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

ASA Gold and Precious Metals Stock Performance

The firm’s 50 day simple moving average is $65.89 and its 200-day simple moving average is $52.40.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. acquired 83,533 shares of ASA Gold and Precious Metals stock in a transaction on Thursday, February 12th. The shares were bought at an average price of $69.69 per share, for a total transaction of $5,821,414.77. Following the completion of the purchase, the insider directly owned 5,853,141 shares in the company, valued at $407,905,396.29. This trade represents a 1.45% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought 657,069 shares of company stock valued at $43,596,808 over the last 90 days. Company insiders own 1.69% of the company’s stock.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of institutional investors have recently added to or reduced their stakes in ASA. Wolverine Asset Management LLC acquired a new stake in shares of ASA Gold and Precious Metals during the second quarter valued at about $1,213,000. JPMorgan Chase & Co. purchased a new stake in ASA Gold and Precious Metals during the 2nd quarter worth approximately $61,000. Steward Partners Investment Advisory LLC increased its holdings in ASA Gold and Precious Metals by 143.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company’s stock worth $229,000 after purchasing an additional 4,272 shares during the last quarter. Laurel Wealth Advisors LLC raised its position in shares of ASA Gold and Precious Metals by 3,057.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 31,570 shares of the investment management company’s stock valued at $1,000,000 after purchasing an additional 30,570 shares in the last quarter. Finally, Walleye Capital LLC boosted its stake in shares of ASA Gold and Precious Metals by 1.4% during the 2nd quarter. Walleye Capital LLC now owns 24,871 shares of the investment management company’s stock valued at $785,000 after buying an additional 341 shares during the last quarter.

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.