ASA Gold and Precious Metals (NYSE:ASA) Sees Strong Trading Volume After Insider Buying Activity

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA) saw unusually-high trading volume on Tuesday following insider buying activity. Approximately 193,931 shares were traded during trading, an increase of 104% from the previous session’s volume of 95,089 shares.The stock last traded at $45.16 and had previously closed at $50.11.

Specifically, major shareholder Saba Capital Management, L.P. purchased 11,566 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were purchased at an average cost of $50.10 per share, with a total value of $579,456.60. Following the completion of the purchase, the insider owned 4,964,743 shares in the company, valued at approximately $248,733,624.30. This represents a 0.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Saba Capital Management, L.P. purchased 13,170 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was acquired at an average cost of $51.71 per share, for a total transaction of $681,020.70. Following the completion of the purchase, the insider owned 4,847,405 shares of the company’s stock, valued at approximately $250,659,312.55. This represents a 0.27% increase in their position. The disclosure for this purchase can be found here. In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. purchased 31,833 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The shares were purchased at an average cost of $50.01 per share, with a total value of $1,591,968.33. Following the completion of the purchase, the insider owned 4,834,235 shares in the company, valued at approximately $241,760,092.35. This represents a 0.66% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, ASA Gold and Precious Metals presently has an average rating of “Buy”.

ASA Gold and Precious Metals Stock Performance

The business’s 50 day simple moving average is $41.94 and its 200 day simple moving average is $35.05.

ASA Gold and Precious Metals Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 12th. This represents a dividend yield of 14.0%.

Institutional Investors Weigh In On ASA Gold and Precious Metals

A number of institutional investors have recently made changes to their positions in ASA. JPMorgan Chase & Co. acquired a new stake in shares of ASA Gold and Precious Metals during the second quarter valued at about $61,000. Fruth Investment Management acquired a new stake in shares of ASA Gold and Precious Metals during the first quarter valued at about $226,000. Steward Partners Investment Advisory LLC increased its position in shares of ASA Gold and Precious Metals by 143.4% during 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 acquiring an additional 4,272 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of ASA Gold and Precious Metals during the second quarter valued at about $231,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of ASA Gold and Precious Metals during the first quarter valued at about $235,000.

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.