ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Acquires 15,423 Shares of Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. acquired 15,423 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were acquired at an average cost of $64.31 per share, with a total value of $991,853.13. Following the completion of the purchase, the insider owned 5,625,450 shares in the company, valued at approximately $361,772,689.50. This represents a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Friday, February 6th, Saba Capital Management, L.P. bought 15,796 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $65.91 per share, for a total transaction of $1,041,114.36.
• On Wednesday, February 4th, Saba Capital Management, L.P. bought 6,788 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $66.45 per share, for a total transaction of $451,062.60.
• On Tuesday, February 3rd, Saba Capital Management, L.P. purchased 28,333 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $66.14 per share, with a total value of $1,873,944.62.
• On Monday, February 2nd, Saba Capital Management, L.P. acquired 8,466 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $64.27 per share, for a total transaction of $544,109.82.
• On Friday, January 30th, Saba Capital Management, L.P. acquired 21,708 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $65.56 per share, for a total transaction of $1,423,176.48.
• On Thursday, January 29th, Saba Capital Management, L.P. acquired 17,075 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $74.59 per share, with a total value of $1,273,624.25.
• On Wednesday, January 28th, Saba Capital Management, L.P. bought 57,165 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $75.32 per share, for a total transaction of $4,305,667.80.
• On Tuesday, January 27th, Saba Capital Management, L.P. purchased 3,730 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $73.15 per share, for a total transaction of $272,849.50.
• On Monday, January 26th, Saba Capital Management, L.P. purchased 1,400 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $72.90 per share, with a total value of $102,060.00.
• On Tuesday, January 20th, Saba Capital Management, L.P. acquired 3,723 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $66.08 per share, for a total transaction of $246,015.84.

ASA Gold and Precious Metals Stock Performance

Shares of NYSE ASA opened at $70.78 on Tuesday. ASA Gold and Precious Metals Limited has a 1 year low of $23.93 and a 1 year high of $78.21. The firm’s 50 day moving average price is $62.21 and its 200 day moving average price is $49.40.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. increased its stake in ASA Gold and Precious Metals by 30.1% during the second quarter. Atria Wealth Solutions Inc. now owns 10,145 shares of the investment management company’s stock worth $320,000 after acquiring an additional 2,350 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in ASA Gold and Precious Metals during the 2nd quarter worth approximately $1,213,000. JPMorgan Chase & Co. purchased a new position in ASA Gold and Precious Metals in the second quarter valued at approximately $61,000. Steward Partners Investment Advisory LLC lifted its position in ASA Gold and Precious Metals by 143.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company’s stock valued at $229,000 after buying an additional 4,272 shares in the last quarter. Finally, Laurel Wealth Advisors LLC grew its stake in ASA Gold and Precious Metals by 3,057.0% during the second quarter. Laurel Wealth Advisors LLC now owns 31,570 shares of the investment management company’s stock worth $1,000,000 after buying an additional 30,570 shares during the period.

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 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

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.