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

ASA Gold and Precious Metals Limited (NYSE:ASA) reached a new 52-week high during trading on Friday after an insider bought additional shares in the company. The stock traded as high as $59.27 and last traded at $59.2160, with a volume of 47055 shares. The stock had previously closed at $57.36.

Specifically, major shareholder Saba Capital Management, L.P. purchased 12,649 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were purchased at an average cost of $57.49 per share, with a total value of $727,191.01. Following the transaction, the insider directly owned 5,355,252 shares of the company’s stock, valued at $307,873,437.48. This represents a 0.24% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Saba Capital Management, L.P. bought 5,846 shares of the stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average price of $57.02 per share, for a total transaction of $333,338.92. Following the completion of the acquisition, the insider owned 5,342,603 shares of the company’s stock, valued at $304,635,223.06. The trade was a 0.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. acquired 7,866 shares of the stock in a transaction dated Monday, December 15th. The stock was purchased at an average cost of $58.10 per share, with a total value of $457,014.60. Following the transaction, the insider owned 5,336,757 shares in the company, valued at approximately $310,065,581.70. The trade was a 0.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a research report on Monday, December 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

ASA Gold and Precious Metals Stock Performance

The stock’s 50-day moving average is $50.03 and its two-hundred day moving average is $41.16.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sessa Capital IM L.P. raised its holdings in shares of ASA Gold and Precious Metals by 56.3% in 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 buying an additional 378,327 shares during the period. Almitas Capital LLC purchased a new stake in ASA Gold and Precious Metals in the 3rd quarter valued at about $15,359,000. Sprott Inc. lifted its position 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 in the last quarter. Medici Capital LLC purchased a new position in shares of ASA Gold and Precious Metals in the 2nd quarter valued at about $5,238,000. Finally, Landscape Capital Management L.L.C. acquired a new position in ASA Gold and Precious Metals during the 3rd quarter worth approximately $6,411,000.

About ASA Gold and Precious Metals

ASA Gold & Precious Metals Limited, trading on the New York Stock Exchange under the ticker ASA, is a closed-end investment company dedicated to providing shareholders with targeted exposure to the precious metals sector. Established in 1959 and domiciled in Guernsey, the company aims to combine dividend income with the potential for long-term capital appreciation by investing in a diversified suite of gold, silver, platinum and palladium assets.

The firm’s core activities involve constructing and managing a portfolio that blends equity positions in precious metals mining companies with direct holdings of physical bullion.