ASA Gold and Precious Metals (NYSE:ASA) Hits New 52-Week High on Insider Buying Activity

ASA Gold and Precious Metals Limited (NYSE:ASA)’s share price hit a new 52-week high on Wednesday following insider buying activity. The company traded as high as $54.75 and last traded at $54.0810, with a volume of 2567 shares trading hands. The stock had previously closed at $52.08.

Specifically, major shareholder Saba Capital Management, L.P. acquired 7,542 shares of the company’s stock in a transaction on Monday, December 8th. The stock was acquired at an average price of $52.40 per share, for a total transaction of $395,200.80. Following the acquisition, the insider owned 5,304,798 shares in the company, valued at $277,971,415.20. This represents a 0.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Saba Capital Management, L.P. purchased 8,002 shares of the stock in a transaction dated Friday, December 5th. The stock was bought at an average cost of $53.22 per share, with a total value of $425,866.44. Following the transaction, the insider owned 5,297,256 shares in the company, valued at $281,919,964.32. The trade was a 0.15% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. purchased 15,408 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was purchased at an average price of $52.87 per share, for a total transaction of $814,620.96. Following the completion of the purchase, the insider directly owned 5,289,254 shares of the company’s stock, valued at $279,642,858.98. This trade represents a 0.29% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of ASA Gold and Precious Metals in a report on Monday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

ASA Gold and Precious Metals Trading Down 0.3%

The stock has a fifty day moving average of $48.31 and a 200 day moving average of $39.86.

ASA Gold and Precious Metals Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of ASA Gold and Precious Metals during the 3rd quarter valued at about $55,000. JPMorgan Chase & Co. purchased a new position in shares of ASA Gold and Precious Metals during the 2nd quarter valued at approximately $61,000. Savant Capital LLC purchased a new stake in ASA Gold and Precious Metals in the 3rd quarter worth $220,000. Fruth Investment Management purchased a new position in ASA Gold and Precious Metals during the first quarter valued at $226,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of 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 worth $229,000 after purchasing an additional 4,272 shares in the last quarter.

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.