ASA Gold and Precious Metals (NYSE:ASA) Sets New 52-Week High Following Insider Buying Activity

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA) reached a new 52-week high during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $39.26 and last traded at $39.46, with a volume of 34424 shares trading hands. The stock had previously closed at $38.28.

Specifically, major shareholder Saba Capital Management, L.P. bought 30,460 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average cost of $38.88 per share, for a total transaction of $1,184,284.80. Following the purchase, the insider owned 4,202,575 shares of the company’s stock, valued at approximately $163,396,116. This trade represents a 0.73% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Saba Capital Management, L.P. purchased 70,108 shares of the stock in a transaction on Tuesday, September 2nd. The stock was bought at an average cost of $38.64 per share, for a total transaction of $2,708,973.12. Following the completion of the acquisition, the insider owned 4,172,115 shares in the company, valued at approximately $161,210,523.60. This trade represents a 1.71% increase in their ownership of the stock. The disclosure for this purchase can be found here.

ASA Gold and Precious Metals Stock Up 3.3%

The company’s fifty day simple moving average is $34.11 and its two-hundred day simple moving average is $30.95.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sessa Capital IM L.P. increased its holdings in shares of ASA Gold and Precious Metals by 56.3% during 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. Medici Capital LLC bought a new position in shares of ASA Gold and Precious Metals during the second quarter worth approximately $5,238,000. Cetera Investment Advisers increased its holdings in shares of ASA Gold and Precious Metals by 223.9% during 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. Sprott Inc. increased its holdings in shares of ASA Gold and Precious Metals by 74.9% during the first quarter. Sprott Inc. now owns 280,183 shares of the investment management company’s stock worth $8,445,000 after purchasing an additional 120,000 shares during the period. Finally, Wolverine Asset Management LLC bought a new position in shares of ASA Gold and Precious Metals during the second quarter worth approximately $1,213,000.

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.