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

ASA Gold and Precious Metals Limited (NYSE:ASA)’s share price reached a new 52-week high during trading on Wednesday following insider buying activity. The stock traded as high as $54.75 and last traded at $54.0810, with a volume of 2567 shares changing hands. The stock had previously closed at $52.08.

Specifically, major shareholder Saba Capital Management, L.P. bought 7,542 shares of ASA Gold and Precious Metals stock in a transaction on Monday, December 8th. The shares were purchased at an average cost of $52.40 per share, for a total transaction of $395,200.80. Following the completion of the acquisition, the insider owned 5,304,798 shares in the company, valued at approximately $277,971,415.20. The trade was a 0.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Saba Capital Management, L.P. bought 8,002 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was acquired at an average cost of $53.22 per share, with a total value of $425,866.44. Following the completion of the purchase, the insider owned 5,297,256 shares of the company’s stock, valued at approximately $281,919,964.32. This trade represents a 0.15% increase in their position. The SEC filing for this purchase provides additional information. In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. purchased 15,408 shares of the stock in a transaction on Thursday, December 4th. The stock was bought at an average cost of $52.87 per share, for a total transaction of $814,620.96. Following the completion of the acquisition, the insider directly owned 5,289,254 shares of the company’s stock, valued at $279,642,858.98. The trade was a 0.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a research report on Monday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

ASA Gold and Precious Metals Price Performance

The stock’s 50 day moving average is $48.49 and its two-hundred day moving average is $39.96.

ASA Gold and Precious Metals Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th were issued a $0.03 dividend. The ex-dividend date was Wednesday, November 12th. This represents a dividend yield of 12.0%.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new position in shares of ASA Gold and Precious Metals in the 3rd quarter valued at about $55,000. JPMorgan Chase & Co. bought a new stake in ASA Gold and Precious Metals during the second quarter worth about $61,000. Savant Capital LLC acquired a new position in ASA Gold and Precious Metals during the third quarter valued at approximately $220,000. Fruth Investment Management bought a new position in ASA Gold and Precious Metals in the first quarter valued at approximately $226,000. Finally, Steward Partners Investment Advisory LLC grew 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 in the last quarter.

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.