ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Purchases 9,112 Shares

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 9,112 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were purchased at an average price of $59.99 per share, for a total transaction of $546,628.88. Following the transaction, the insider owned 5,391,713 shares of the company’s stock, valued at $323,448,862.87. The trade was a 0.17% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% 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 30th, Saba Capital Management, L.P. purchased 6,892 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $60.34 per share, with a total value of $415,863.28.
• On Monday, December 29th, Saba Capital Management, L.P. purchased 10,111 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $58.81 per share, for a total transaction of $594,627.91.
• On Friday, December 26th, Saba Capital Management, L.P. acquired 714 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $61.92 per share, with a total value of $44,210.88.
• On Wednesday, December 24th, Saba Capital Management, L.P. bought 467 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $60.76 per share, with a total value of $28,374.92.
• On Tuesday, December 23rd, Saba Capital Management, L.P. bought 2,524 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $61.75 per share, for a total transaction of $155,857.00.
• On Monday, December 22nd, Saba Capital Management, L.P. purchased 2,760 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $60.85 per share, with a total value of $167,946.00.
• On Thursday, December 18th, Saba Capital Management, L.P. acquired 3,881 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $57.52 per share, with a total value of $223,235.12.
• On Wednesday, December 17th, Saba Capital Management, L.P. bought 12,649 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $57.49 per share, for a total transaction of $727,191.01.
• On Tuesday, December 16th, Saba Capital Management, L.P. purchased 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 cost of $58.10 per share, for a total transaction of $457,014.60.

ASA Gold and Precious Metals Trading Down 2.5%

Shares of ASA opened at $58.18 on Friday. ASA Gold and Precious Metals Limited has a fifty-two week low of $20.63 and a fifty-two week high of $63.02. The company’s fifty day moving average is $52.48 and its two-hundred day moving average is $43.05.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research note on Monday. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASA. JPMorgan Chase & Co. grew its stake in shares of ASA Gold and Precious Metals by 64.7% in the third quarter. JPMorgan Chase & Co. now owns 3,199 shares of the investment management company’s stock valued at $147,000 after buying an additional 1,257 shares in the last quarter. Advisory Services Network LLC acquired a new position in ASA Gold and Precious Metals during the 3rd quarter worth approximately $55,000. Integrated Wealth Concepts LLC boosted its holdings in ASA Gold and Precious Metals by 4.4% in 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 period. Almitas Capital LLC purchased a new position in ASA Gold and Precious Metals in the 3rd quarter worth approximately $15,359,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in ASA Gold and Precious Metals in the third quarter valued at approximately $6,411,000.

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.