ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Buys 5,846 Shares

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. purchased 5,846 shares of ASA Gold and Precious Metals stock in a transaction on Tuesday, December 16th. The shares were acquired at an average cost of $57.02 per share, for a total transaction of $333,338.92. Following the purchase, the insider owned 5,342,603 shares in the company, valued at approximately $304,635,223.06. This trade represents a 0.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 Wednesday, December 17th, Saba Capital Management, L.P. acquired 12,649 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $57.49 per share, with a total value of $727,191.01.
• On Monday, December 15th, Saba Capital Management, L.P. bought 7,866 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $58.10 per share, with a total value of $457,014.60.
• On Friday, December 12th, Saba Capital Management, L.P. bought 13,696 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $57.85 per share, for a total transaction of $792,313.60.
• On Wednesday, December 10th, Saba Capital Management, L.P. purchased 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 acquired 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, with a total value of $425,866.44.
• On Thursday, December 4th, Saba Capital Management, L.P. acquired 15,408 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $52.87 per share, for a total transaction of $814,620.96.
• On Wednesday, December 3rd, Saba Capital Management, L.P. bought 9,576 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $53.37 per share, for a total transaction 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 shares were bought 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 bought at an average cost of $53.46 per share, for a total transaction of $511,077.60.

ASA Gold and Precious Metals Stock Up 0.7%

Shares of ASA traded up $0.43 during mid-day trading on Thursday, reaching $58.06. The company had a trading volume of 38,906 shares, compared to its average volume of 94,770. The firm has a fifty day simple moving average of $49.58 and a 200-day simple moving average of $40.87. ASA Gold and Precious Metals Limited has a fifty-two week low of $19.46 and a fifty-two week high of $59.25.

ASA Gold and Precious Metals Announces Dividend

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in ASA. Sprott Inc. increased its holdings in ASA Gold and Precious Metals by 74.9% in the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company’s stock valued at $8,445,000 after purchasing an additional 120,000 shares in the last quarter. Walleye Capital LLC boosted its position in shares of ASA Gold and Precious Metals by 43.4% in the first quarter. Walleye Capital LLC now owns 24,530 shares of the investment management company’s stock worth $739,000 after buying an additional 7,419 shares during the period. Sessa Capital IM L.P. grew its stake in shares of ASA Gold and Precious Metals by 56.3% in the first 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 buying an additional 378,327 shares in the last quarter. Fruth Investment Management purchased a new stake in shares of ASA Gold and Precious Metals during the 1st quarter valued at about $226,000. Finally, Medici Capital LLC acquired a new position in ASA Gold and Precious Metals during the 2nd quarter worth approximately $5,238,000.

ASA Gold and Precious Metals Company Profile

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.