ASA Gold and Precious Metals (NYSE:ASA) Reaches New 52-Week High – Here’s What Happened

ASA Gold and Precious Metals Limited (NYSE:ASA) hit a new 52-week high during trading on Friday . The stock traded as high as $63.00 and last traded at $62.0150, with a volume of 31825 shares. The stock had previously closed at $61.36.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of ASA Gold and Precious Metals in a research note on Monday. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, ASA Gold and Precious Metals has a consensus rating of “Buy”.

ASA Gold and Precious Metals Stock Up 1.3%

The firm’s fifty day moving average price is $50.92 and its 200 day moving average price is $41.95.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. bought 3,881 shares of the stock in a transaction on Thursday, December 18th. The stock was purchased at an average cost of $57.52 per share, with a total value of $223,235.12. Following the purchase, the insider owned 5,359,133 shares of the company’s stock, valued at approximately $308,257,330.16. The trade was a 0.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 608,443 shares of company stock valued at $29,444,264 over the last quarter. 1.69% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC acquired a new position in shares of ASA Gold and Precious Metals in the 3rd quarter worth approximately $55,000. JPMorgan Chase & Co. acquired a new position in ASA Gold and Precious Metals during the second quarter worth approximately $61,000. Savant Capital LLC bought a new stake in shares of ASA Gold and Precious Metals in the third quarter valued at approximately $220,000. Fruth Investment Management bought a new stake in shares of ASA Gold and Precious Metals during the 1st quarter valued at approximately $226,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of ASA Gold and Precious Metals by 143.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company’s stock worth $229,000 after acquiring an additional 4,272 shares during the period.

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.