ASA Gold and Precious Metals (NYSE:ASA) Sets New 1-Year High After Insider Buying Activity

ASA Gold and Precious Metals Limited (NYSE:ASA) reached a new 52-week high on Friday following insider buying activity. The company traded as high as $35.64 and last traded at $35.73, with a volume of 8953 shares traded. The stock had previously closed at $34.97.

Specifically, major shareholder Saba Capital Management, L.P. acquired 9,943 shares of ASA Gold and Precious Metals stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $33.99 per share, with a total value of $337,962.57. Following the completion of the acquisition, the insider owned 4,072,404 shares in the company, valued at $138,421,011.96. This trade represents a 0.24% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Saba Capital Management, L.P. purchased 1,600 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $34.46 per share, with a total value of $55,136.00. Following the completion of the acquisition, the insider owned 4,062,461 shares of the company’s stock, valued at approximately $139,992,406.06. The trade was a 0.04% increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, major shareholder Saba Capital Management, L.P. purchased 10,000 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was bought at an average cost of $34.53 per share, with a total value of $345,300.00. Following the completion of the acquisition, the insider directly owned 4,060,861 shares in the company, valued at $140,221,530.33. The trade was a 0.25% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

ASA Gold and Precious Metals Price Performance

The stock has a fifty day moving average price of $33.03 and a two-hundred day moving average price of $30.11.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. raised its holdings in shares of ASA Gold and Precious Metals by 128,600.0% in the first quarter. NBC Securities Inc. now owns 1,287 shares of the investment management company’s stock worth $38,000 after acquiring an additional 1,286 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of ASA Gold and Precious Metals in the second quarter worth $61,000. Wealthcare Advisory Partners LLC acquired a new position in shares of ASA Gold and Precious Metals in the first quarter worth $220,000. Fruth Investment Management acquired a new position in shares of ASA Gold and Precious Metals in the first quarter worth $226,000. Finally, Steward Partners Investment Advisory LLC increased its stake in ASA Gold and Precious Metals by 143.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company’s stock valued at $229,000 after purchasing an additional 4,272 shares during the last quarter.

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.