Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Purchases $727,191.01 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 12,649 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average cost of $57.49 per share, for a total transaction of $727,191.01. Following the acquisition, the insider directly owned 5,355,252 shares of the company’s stock, valued at $307,873,437.48. The trade was a 0.24% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, December 16th, Saba Capital Management, L.P. bought 5,846 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $57.02 per share, with a total value of $333,338.92.
• On Monday, December 15th, Saba Capital Management, L.P. purchased 7,866 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $58.10 per share, for a total transaction of $457,014.60.
• On Friday, December 12th, Saba Capital Management, L.P. purchased 13,696 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $57.85 per share, for a total transaction of $792,313.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. acquired 10,397 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $54.09 per share, with a total value of $562,373.73.
• On Monday, December 8th, Saba Capital Management, L.P. acquired 7,542 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $52.40 per share, with a total value of $395,200.80.
• On Friday, December 5th, Saba Capital Management, L.P. bought 8,002 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $53.22 per share, for a total transaction of $425,866.44.
• On Thursday, December 4th, Saba Capital Management, L.P. purchased 15,408 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $52.87 per share, with a total value of $814,620.96.
• On Wednesday, December 3rd, Saba Capital Management, L.P. purchased 9,576 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $53.37 per share, with a total value of $511,071.12.
• On Tuesday, December 2nd, Saba Capital Management, L.P. acquired 8,078 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $52.82 per share, for a total transaction of $426,679.96.
• On Monday, December 1st, Saba Capital Management, L.P. bought 9,560 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $53.46 per share, with a total value of $511,077.60.

ASA Gold and Precious Metals Stock Performance

NYSE ASA opened at $58.81 on Friday. The company has a 50-day moving average price of $50.03 and a two-hundred day moving average price of $41.22. ASA Gold and Precious Metals Limited has a 52 week low of $19.70 and a 52 week high of $59.68.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ASA. Sessa Capital IM L.P. lifted its position in 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 purchasing an additional 378,327 shares during the period. Almitas Capital LLC bought a new stake in shares of ASA Gold and Precious Metals in the 3rd quarter worth $15,359,000. Medici Capital LLC acquired a new stake in shares of ASA Gold and Precious Metals in the second quarter valued at $5,238,000. Landscape Capital Management L.L.C. bought a new position in ASA Gold and Precious Metals during the third quarter valued at about $6,411,000. Finally, Sprott Inc. grew its holdings in 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 acquiring an additional 120,000 shares during the period.

ASA Gold and Precious Metals Company Profile

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.