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

ASA Gold and Precious Metals Limited (NYSE:ASA) shares reached a new 52-week high on Friday following insider buying activity. The stock traded as high as $41.24 and last traded at $40.89, with a volume of 6960 shares. The stock had previously closed at $40.71.

Specifically, major shareholder Saba Capital Management, L.P. acquired 19,126 shares of the stock in a transaction dated Wednesday, September 10th. The shares were purchased at an average cost of $40.34 per share, with a total value of $771,542.84. Following the transaction, the insider directly owned 4,310,895 shares in the company, valued at approximately $173,901,504.30. This represents a 0.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Saba Capital Management, L.P. bought 31,225 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were purchased at an average price of $40.06 per share, for a total transaction of $1,250,873.50. Following the purchase, the insider owned 4,291,769 shares in the company, valued at $171,928,266.14. This represents a 0.73% increase in their position. The disclosure for this purchase can be found here. In other news, major shareholder Saba Capital Management, L.P. bought 24,510 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were bought at an average price of $40.50 per share, for a total transaction of $992,655.00. Following the purchase, the insider owned 4,260,544 shares in the company, valued at $172,552,032. This represents a 0.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

ASA Gold and Precious Metals Stock Up 0.5%

The firm’s 50 day simple moving average is $34.95 and its 200 day simple moving average is $31.47.

Institutional Trading of ASA Gold and Precious Metals

Several hedge funds have recently bought and sold shares of the stock. Sessa Capital IM L.P. lifted its stake in ASA Gold and Precious Metals by 56.3% in 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 purchasing an additional 378,327 shares in the last quarter. Sprott Inc. grew its holdings in ASA Gold and Precious Metals by 74.9% during the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company’s stock valued at $8,445,000 after purchasing an additional 120,000 shares during the last quarter. Cetera Investment Advisers grew its holdings in ASA Gold and Precious Metals by 223.9% during the 1st quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company’s stock valued at $5,692,000 after purchasing an additional 130,547 shares during the last quarter. Medici Capital LLC bought a new position in ASA Gold and Precious Metals during the 2nd quarter valued at about $5,238,000. Finally, Blue Bell Private Wealth Management LLC boosted its position in ASA Gold and Precious Metals by 3.0% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 116,268 shares of the investment management company’s stock valued at $3,504,000 after buying an additional 3,345 shares during the period.

ASA Gold and Precious Metals Company Profile

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.