ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Acquires 4,541 Shares of Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. acquired 4,541 shares of the firm’s stock in a transaction on Friday, January 16th. The shares were bought at an average cost of $63.63 per share, with a total value of $288,943.83. Following the completion of the acquisition, the insider directly owned 5,461,639 shares in the company, valued at approximately $347,524,089.57. This represents a 0.08% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Thursday, January 15th, Saba Capital Management, L.P. bought 4,654 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $63.35 per share, for a total transaction of $294,830.90.
• On Wednesday, January 14th, Saba Capital Management, L.P. bought 5,000 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $63.82 per share, for a total transaction of $319,100.00.
• On Tuesday, January 13th, Saba Capital Management, L.P. purchased 15,162 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $64.52 per share, with a total value of $978,252.24.
• On Monday, January 12th, Saba Capital Management, L.P. purchased 9,508 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $64.19 per share, with a total value of $610,318.52.
• On Thursday, January 8th, Saba Capital Management, L.P. acquired 2,479 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $60.71 per share, for a total transaction of $150,500.09.
• On Friday, January 9th, Saba Capital Management, L.P. acquired 4,152 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $62.03 per share, for a total transaction of $257,548.56.
• On Wednesday, January 7th, Saba Capital Management, L.P. acquired 3,598 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $59.78 per share, for a total transaction of $215,088.44.
• On Tuesday, January 6th, Saba Capital Management, L.P. bought 3,280 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $61.80 per share, with a total value of $202,704.00.
• On Monday, January 5th, Saba Capital Management, L.P. bought 8,770 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $60.32 per share, with a total value of $529,006.40.
• On Friday, January 2nd, Saba Capital Management, L.P. purchased 8,782 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $58.93 per share, for a total transaction of $517,523.26.

ASA Gold and Precious Metals Stock Performance

ASA Gold and Precious Metals stock opened at $66.55 on Wednesday. ASA Gold and Precious Metals Limited has a fifty-two week low of $21.81 and a fifty-two week high of $66.68. The firm’s 50-day simple moving average is $56.57 and its 200 day simple moving average is $45.79.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter worth approximately $231,000. Atria Wealth Solutions Inc. lifted its stake in ASA Gold and Precious Metals by 30.1% in the second quarter. Atria Wealth Solutions Inc. now owns 10,145 shares of the investment management company’s stock valued at $320,000 after purchasing an additional 2,350 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in ASA Gold and Precious Metals in the second quarter valued at approximately $1,213,000. JPMorgan Chase & Co. bought a new position in ASA Gold and Precious Metals during the second quarter valued at $61,000. Finally, Steward Partners Investment Advisory LLC increased its position 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 worth $229,000 after buying an additional 4,272 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ASA Gold and Precious Metals in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

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.