ASA Gold and Precious Metals (NYSE:ASA) Hits New 1-Year High – What’s Next?

ASA Gold and Precious Metals Limited (NYSE:ASA) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $63.00 and last traded at $62.0150, with a volume of 31825 shares. The stock had previously closed at $61.36.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research report on Monday, December 22nd. One equities research 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 has a 50-day simple moving average of $51.18 and a two-hundred day simple moving average of $42.21.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. bought 46,649 shares of ASA Gold and Precious Metals stock in a transaction dated Tuesday, October 7th. The shares were acquired at an average price of $46.50 per share, with a total value of $2,169,178.50. Following the completion of the purchase, the insider owned 4,703,326 shares in the company, valued at $218,704,659. The trade was a 1.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 608,443 shares of company stock worth $29,444,264 in the last quarter. Insiders own 1.69% of the company’s stock.

Institutional Trading of ASA Gold and Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASA. Walleye Capital LLC boosted its position in shares of ASA Gold and Precious Metals by 1.4% during the second quarter. Walleye Capital LLC now owns 24,871 shares of the investment management company’s stock valued at $785,000 after buying an additional 341 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of ASA Gold and Precious Metals by 4.4% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 16,110 shares of the investment management company’s stock worth $738,000 after acquiring an additional 681 shares during the last quarter. Advisory Services Network LLC purchased a new position in ASA Gold and Precious Metals during the 3rd quarter valued at $55,000. JPMorgan Chase & Co. boosted its holdings in ASA Gold and Precious Metals by 64.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,199 shares of the investment management company’s stock valued at $147,000 after acquiring an additional 1,257 shares during the period. Finally, Atria Wealth Solutions Inc. grew its position in ASA Gold and Precious Metals by 30.1% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 10,145 shares of the investment management company’s stock valued at $320,000 after acquiring an additional 2,350 shares during the last quarter.

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.