Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires $3,615,040.00 in Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. purchased 50,560 shares of the company’s stock in a transaction on Friday, February 13th. The stock was bought at an average cost of $71.50 per share, for a total transaction of $3,615,040.00. Following the acquisition, the insider directly owned 5,903,701 shares of the company’s stock, valued at $422,114,621.50. This represents a 0.86% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 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 Thursday, February 12th, Saba Capital Management, L.P. acquired 83,533 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $69.69 per share, for a total transaction of $5,821,414.77.
• On Wednesday, February 11th, Saba Capital Management, L.P. purchased 40,222 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $72.09 per share, with a total value of $2,899,603.98.
• On Tuesday, February 10th, Saba Capital Management, L.P. purchased 62,201 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $71.10 per share, with a total value of $4,422,491.10.
• On Monday, February 9th, Saba Capital Management, L.P. acquired 25,939 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $69.99 per share, with a total value of $1,815,470.61.
• On Friday, February 6th, Saba Capital Management, L.P. bought 15,796 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $65.91 per share, with a total value of $1,041,114.36.
• On Thursday, February 5th, Saba Capital Management, L.P. bought 15,423 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $64.31 per share, for a total transaction of $991,853.13.
• On Wednesday, February 4th, Saba Capital Management, L.P. bought 6,788 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $66.45 per share, for a total transaction of $451,062.60.
• On Tuesday, February 3rd, Saba Capital Management, L.P. bought 28,333 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $66.14 per share, for a total transaction 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 shares were bought at an average cost of $64.27 per share, with a total value of $544,109.82.
• On Friday, January 30th, Saba Capital Management, L.P. bought 21,708 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $65.56 per share, for a total transaction of $1,423,176.48.

ASA Gold and Precious Metals Price Performance

Shares of NYSE:ASA opened at $70.26 on Friday. The company’s 50-day moving average price is $64.84 and its two-hundred day moving average price is $51.29. ASA Gold and Precious Metals Limited has a 12 month low of $23.93 and a 12 month high of $78.21.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Institutional investors have recently made changes to their positions in the company. Zazove Associates LLC grew its stake in shares of ASA Gold and Precious Metals by 78.8% in the fourth quarter. Zazove Associates LLC now owns 31,655 shares of the investment management company’s stock valued at $1,889,000 after acquiring an additional 13,955 shares in the last quarter. Verdad Advisers LP acquired a new position in ASA Gold and Precious Metals during the fourth quarter worth about $301,000. Saba Capital Management L.P. increased its position in ASA Gold and Precious Metals by 15.8% during the 4th quarter. Saba Capital Management L.P. now owns 5,391,713 shares of the investment management company’s stock worth $321,724,000 after purchasing an additional 735,036 shares in the last quarter. Evolve Private Wealth LLC bought a new position in shares of ASA Gold and Precious Metals in the 4th quarter valued at $1,178,000. Finally, Almitas Capital LLC raised its position in ASA Gold and Precious Metals by 14.0% in the fourth quarter. Almitas Capital LLC now owns 382,139 shares of the investment management company’s stock valued at $22,802,000 after purchasing an additional 46,797 shares during the last quarter.

Analysts Set New Price Targets

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