Saba Capital Management, L.P. Purchases 57,165 Shares of ASA Gold and Precious Metals (NYSE:ASA) Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. acquired 57,165 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was acquired at an average cost of $75.32 per share, for a total transaction of $4,305,667.80. Following the completion of the purchase, the insider owned 5,527,657 shares in the company, valued at $416,343,125.24. The trade was a 1.04% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 Tuesday, January 27th, Saba Capital Management, L.P. acquired 3,730 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $73.15 per share, with a total value of $272,849.50.
• On Monday, January 26th, Saba Capital Management, L.P. acquired 1,400 shares of ASA Gold and Precious Metals stock. The shares were bought 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. bought 3,723 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $66.08 per share, for a total transaction of $246,015.84.
• On Friday, January 16th, Saba Capital Management, L.P. purchased 4,541 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $63.63 per share, with a total value of $288,943.83.
• On Thursday, January 15th, Saba Capital Management, L.P. purchased 4,654 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $63.35 per share, with a total value of $294,830.90.
• On Wednesday, January 14th, Saba Capital Management, L.P. acquired 5,000 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $63.82 per share, for a total transaction of $319,100.00.
• On Tuesday, January 13th, Saba Capital Management, L.P. acquired 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. bought 9,508 shares of ASA Gold and Precious Metals stock. The stock was purchased 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. purchased 2,479 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $60.71 per share, for a total transaction of $150,500.09.
• On Friday, January 9th, Saba Capital Management, L.P. purchased 4,152 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $62.03 per share, with a total value of $257,548.56.

ASA Gold and Precious Metals Price Performance

NYSE:ASA opened at $63.82 on Friday. The firm has a 50 day simple moving average of $60.37 and a 200-day simple moving average of $47.79. ASA Gold and Precious Metals Limited has a 1-year low of $22.71 and a 1-year high of $78.21.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On ASA Gold and Precious Metals

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of ASA Gold and Precious Metals in the 2nd quarter worth about $231,000. Atria Wealth Solutions Inc. grew its holdings in shares of ASA Gold and Precious Metals by 30.1% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 10,145 shares of the investment management company’s stock worth $320,000 after purchasing an additional 2,350 shares during the period. 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. Finally, 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.

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.