ASA Gold and Precious Metals (NYSE:ASA) Reaches New 12-Month High – What’s Next?

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA) hit a new 52-week high on Wednesday . The company traded as high as $79.00 and last traded at $77.80, with a volume of 8200 shares trading hands. The stock had previously closed at $77.32.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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 presently has an average rating of “Buy”.

ASA Gold and Precious Metals Stock Performance

The business’s 50 day moving average price is $66.74 and its 200 day moving average price is $52.77.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. acquired 50,560 shares of the business’s stock in a transaction on Friday, February 13th. The stock was bought at an average price of $71.50 per share, with a total value of $3,615,040.00. Following the completion of the acquisition, the insider owned 5,903,701 shares of the company’s stock, valued at approximately $422,114,621.50. This represents a 0.86% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 657,069 shares of company stock worth $43,596,808 in the last quarter. 1.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of large investors have recently added to or reduced their stakes in ASA. Wolverine Asset Management LLC purchased a new position in ASA Gold and Precious Metals during the second quarter valued at $1,213,000. JPMorgan Chase & Co. acquired a new position in shares of ASA Gold and Precious Metals during the 2nd quarter worth about $61,000. Steward Partners Investment Advisory LLC lifted its stake 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 valued at $229,000 after buying an additional 4,272 shares in the last quarter. Laurel Wealth Advisors LLC boosted its holdings in ASA Gold and Precious Metals by 3,057.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 31,570 shares of the investment management company’s stock worth $1,000,000 after buying an additional 30,570 shares during the last quarter. Finally, Walleye Capital LLC boosted its holdings in ASA Gold and Precious Metals by 1.4% in the 2nd quarter. Walleye Capital LLC now owns 24,871 shares of the investment management company’s stock worth $785,000 after buying an additional 341 shares during the last quarter.

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.