Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Buys 17,075 Shares of Stock

ASA Gold and Precious Metals Limited (NYSE:ASA) major shareholder Saba Capital Management, L.P. acquired 17,075 shares of ASA Gold and Precious Metals stock in a transaction dated Thursday, January 29th. The stock was purchased at an average cost of $74.59 per share, with a total value of $1,273,624.25. Following the completion of the purchase, the insider owned 5,544,732 shares of the company’s stock, valued at approximately $413,581,559.88. This represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 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, January 30th, Saba Capital Management, L.P. bought 21,708 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $65.56 per share, for a total transaction of $1,423,176.48.
• On Wednesday, January 28th, Saba Capital Management, L.P. purchased 57,165 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $75.32 per share, with a total value of $4,305,667.80.
• On Tuesday, January 27th, Saba Capital Management, L.P. purchased 3,730 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $73.15 per share, for a total transaction of $272,849.50.
• On Monday, January 26th, Saba Capital Management, L.P. acquired 1,400 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $72.90 per share, for a total transaction of $102,060.00.
• On Tuesday, January 20th, Saba Capital Management, L.P. acquired 3,723 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $66.08 per share, with a total value of $246,015.84.
• On Friday, January 16th, Saba Capital Management, L.P. bought 4,541 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $63.63 per share, with a total value of $288,943.83.
• On Thursday, January 15th, Saba Capital Management, L.P. purchased 4,654 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $63.35 per share, for a total transaction of $294,830.90.
• On Wednesday, January 14th, Saba Capital Management, L.P. bought 5,000 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $63.82 per share, for a total transaction of $319,100.00.
• On Tuesday, January 13th, Saba Capital Management, L.P. acquired 15,162 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $64.52 per share, with a total value of $978,252.24.
• On Monday, January 12th, Saba Capital Management, L.P. acquired 9,508 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $64.19 per share, with a total value of $610,318.52.

ASA Gold and Precious Metals Trading Down 3.1%

Shares of ASA stock traded down $1.99 during trading hours on Monday, hitting $62.55. The stock had a trading volume of 69,008 shares, compared to its average volume of 149,390. The stock’s 50-day moving average price is $60.37 and its two-hundred day moving average price is $48.00. ASA Gold and Precious Metals Limited has a one year low of $22.71 and a one year high of $78.21.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Almitas Capital LLC purchased a new position in shares of ASA Gold and Precious Metals in the 3rd quarter worth approximately $15,359,000. Landscape Capital Management L.L.C. purchased a new stake in ASA Gold and Precious Metals during the 3rd quarter valued at $6,411,000. Wolverine Asset Management LLC bought a new stake in ASA Gold and Precious Metals in the second quarter worth $1,213,000. Laurel Wealth Advisors LLC boosted its stake in ASA Gold and Precious Metals by 3,057.0% during the second 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 period. Finally, Noble Wealth Management PBC boosted its stake in ASA Gold and Precious Metals by 61.7% during the fourth quarter. Noble Wealth Management PBC now owns 73,354 shares of the investment management company’s stock worth $4,377,000 after buying an additional 27,987 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of ASA Gold and Precious Metals in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

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.