ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Acquires 83,533 Shares of Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 83,533 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was purchased at an average cost of $69.69 per share, with a total value of $5,821,414.77. Following the completion of the acquisition, the insider directly owned 5,853,141 shares of the company’s stock, valued at approximately $407,905,396.29. The trade was a 1.45% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% 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 13th, Saba Capital Management, L.P. purchased 50,560 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $71.50 per share, for a total transaction of $3,615,040.00.
• On Wednesday, February 11th, Saba Capital Management, L.P. purchased 40,222 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $72.09 per share, with a total value of $2,899,603.98.
• On Tuesday, February 10th, Saba Capital Management, L.P. acquired 62,201 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $71.10 per share, for a total transaction of $4,422,491.10.
• On Monday, February 9th, Saba Capital Management, L.P. bought 25,939 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $69.99 per share, for a total transaction 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 stock was acquired 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. purchased 15,423 shares of ASA Gold and Precious Metals stock. The shares were 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. acquired 6,788 shares of ASA Gold and Precious Metals stock. The shares were acquired 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. acquired 28,333 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $66.14 per share, with a total value of $1,873,944.62.
• On Monday, February 2nd, Saba Capital Management, L.P. bought 8,466 shares of ASA Gold and Precious Metals stock. The stock was acquired 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 shares were bought at an average price of $65.56 per share, for a total transaction of $1,423,176.48.

ASA Gold and Precious Metals Trading Down 6.3%

Shares of ASA stock opened at $67.04 on Wednesday. The company has a 50 day moving average price of $64.30 and a 200-day moving average price of $51.02. ASA Gold and Precious Metals Limited has a 52 week low of $23.93 and a 52 week high of $78.21.

Institutional Trading of ASA Gold and Precious Metals

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

Wall Street Analysts Forecast Growth

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