Insider Buying: ASA Gold and Precious Metals Limited (NYSE:ASA) Major Shareholder Purchases 1,836 Shares of Stock

Key Points

• Saba Capital Management, L.P. purchased $64,461.96 worth of ASA Gold and Precious Metals stock, acquiring 1,836 shares at an average price of $35.11 per share.
• Following this transaction, Saba Capital Management now holds 4,042,551 shares, valued at approximately $141.9 million, reflecting a 0.05% increase in their position.
• The shares of ASA Gold and Precious Metals Limited traded down 1.8% to $34.48 during mid-day trading on Thursday, with an average trading volume of 73,975 shares.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. bought 1,836 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were bought at an average cost of $35.11 per share, for a total transaction of $64,461.96. Following the completion of the transaction, the insider directly owned 4,042,551 shares of the company's stock, valued at $141,933,965.61. This trade represents a 0.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more 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 Tuesday, August 12th, Saba Capital Management, L.P. bought 354,169 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $35.39 per share, for a total transaction of $12,534,040.91.
• On Monday, August 11th, Saba Capital Management, L.P. bought 327,900 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $35.00 per share, for a total transaction of $11,476,500.00.
• On Friday, August 8th, Saba Capital Management, L.P. bought 35,777 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $35.22 per share, for a total transaction of $1,260,065.94.
• On Thursday, August 7th, Saba Capital Management, L.P. bought 69,032 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $34.73 per share, for a total transaction of $2,397,481.36.

ASA Gold and Precious Metals Stock Down 0.5%

Shares of ASA stock traded down $0.16 during trading on Monday, reaching $34.37. The company had a trading volume of 5,278 shares, compared to its average volume of 74,949. The firm's 50 day simple moving average is $32.91 and its two-hundred day simple moving average is $29.81. ASA Gold and Precious Metals Limited has a one year low of $18.51 and a one year high of $35.60.

Institutional Investors Weigh In On ASA Gold and Precious Metals

A number of large investors have recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. boosted its position in ASA Gold and Precious Metals by 56.3% during the first quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company's stock worth $31,647,000 after purchasing an additional 378,327 shares during the period. Sprott Inc. boosted its position in ASA Gold and Precious Metals by 74.9% during the first quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock worth $8,445,000 after purchasing an additional 120,000 shares during the period. Capstone Investment Advisors LLC increased its position in ASA Gold and Precious Metals by 634.3% in the 4th quarter. Capstone Investment Advisors LLC now owns 266,221 shares of the investment management company's stock worth $5,383,000 after buying an additional 229,968 shares during the period. Cetera Investment Advisers increased its position in ASA Gold and Precious Metals by 223.9% in the 1st quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock worth $5,692,000 after buying an additional 130,547 shares during the period. Finally, Medici Capital LLC bought a new position in ASA Gold and Precious Metals in the 2nd quarter worth approximately $5,238,000.

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.