ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Acquires 7,866 Shares

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. bought 7,866 shares of ASA Gold and Precious Metals stock in a transaction dated Monday, December 15th. The stock was acquired at an average price of $58.10 per share, with a total value of $457,014.60. Following the completion of the transaction, the insider directly owned 5,336,757 shares of the company’s stock, valued at approximately $310,065,581.70. The trade was a 0.15% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 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, December 12th, Saba Capital Management, L.P. acquired 13,696 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $57.85 per share, with a total value of $792,313.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. bought 10,397 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $54.09 per share, for a total transaction of $562,373.73.
• On Monday, December 8th, Saba Capital Management, L.P. purchased 7,542 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $52.40 per share, with a total value of $395,200.80.
• On Friday, December 5th, Saba Capital Management, L.P. acquired 8,002 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $53.22 per share, for a total transaction of $425,866.44.
• On Thursday, December 4th, Saba Capital Management, L.P. bought 15,408 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $52.87 per share, with a total value of $814,620.96.
• On Wednesday, December 3rd, Saba Capital Management, L.P. acquired 9,576 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $53.37 per share, with a total value of $511,071.12.
• On Tuesday, December 2nd, Saba Capital Management, L.P. purchased 8,078 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $52.82 per share, with a total value of $426,679.96.
• On Monday, December 1st, Saba Capital Management, L.P. purchased 9,560 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $53.46 per share, with a total value of $511,077.60.
• On Tuesday, November 25th, Saba Capital Management, L.P. acquired 7,283 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $48.75 per share, for a total transaction of $355,046.25.
• On Friday, November 21st, Saba Capital Management, L.P. acquired 9,784 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $46.94 per share, with a total value of $459,260.96.

ASA Gold and Precious Metals Stock Performance

NYSE:ASA opened at $57.31 on Wednesday. ASA Gold and Precious Metals Limited has a 52 week low of $19.37 and a 52 week high of $59.25. The stock’s fifty day moving average is $49.40 and its two-hundred day moving average is $40.76.

ASA Gold and Precious Metals Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a yield of 12.0%.

Institutional Trading of ASA Gold and Precious Metals

Several hedge funds have recently modified their holdings of ASA. Wealth Enhancement Advisory Services LLC purchased a new position in ASA Gold and Precious Metals in the second quarter valued at $231,000. Sessa Capital IM L.P. raised its position in ASA Gold and Precious Metals by 56.3% in the 1st quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company’s stock valued at $31,647,000 after purchasing an additional 378,327 shares in the last quarter. Walleye Capital LLC raised its position in ASA Gold and Precious Metals by 43.4% in the 1st quarter. Walleye Capital LLC now owns 24,530 shares of the investment management company’s stock valued at $739,000 after purchasing an additional 7,419 shares in the last quarter. Medici Capital LLC acquired a new position in shares of ASA Gold and Precious Metals during the second quarter worth about $5,238,000. Finally, Wolverine Asset Management LLC purchased a new position in ASA Gold and Precious Metals in the second quarter worth approximately $1,213,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a research note on Monday, December 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

About ASA Gold and Precious Metals

ASA Gold and Precious Metals Limited is a publicly owned investment manager. The firm invests in the public equity markets across the globe. It primarily invests in stocks of companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds, or other precious minerals. It also invests in exchange traded funds.