Insider Buying: ASA Gold and Precious Metals Limited (NYSE:ASA) Major Shareholder Acquires 69,032 Shares of Stock

Key Points

• Major shareholder Saba Capital Management, L.P. purchased 69,032 shares of ASA Gold and Precious Metals stock for approximately $2.4 million, increasing their total holdings to 3,322,869 shares.
• Institutional investors have significantly increased their stakes in ASA Gold and Precious Metals, with notable boosts from NBC Securities Inc. by 128,600% and LaSalle St. Investment Advisors LLC by 47.5%.
• The stock's recent trading price is $35.04, with a 12-month high of $35.60 and a low of $17.64, indicating solid performance in the precious metals market.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 69,032 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average price of $34.73 per share, for a total transaction of $2,397,481.36. Following the purchase, the insider directly owned 3,322,869 shares of the company's stock, valued at approximately $115,403,240.37. This trade represents a 2.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 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 Wednesday, August 13th, Saba Capital Management, L.P. acquired 1,836 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $35.11 per share, with a total value of $64,461.96.
• On Tuesday, August 12th, Saba Capital Management, L.P. bought 354,169 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $35.39 per share, with a total value 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 price of $35.00 per share, for a total transaction of $11,476,500.00.
• On Friday, August 8th, Saba Capital Management, L.P. acquired 35,777 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $35.22 per share, for a total transaction of $1,260,065.94.

ASA Gold and Precious Metals Stock Performance

NYSE ASA traded up $0.60 on Friday, reaching $34.39. The company's stock had a trading volume of 119,692 shares, compared to its average volume of 132,520. ASA Gold and Precious Metals Limited has a 52 week low of $18.51 and a 52 week high of $35.60. The business has a 50-day moving average price of $32.91 and a 200 day moving average price of $29.72.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of large investors have recently modified their holdings of ASA. Covestor Ltd raised its stake in shares of ASA Gold and Precious Metals by 17.2% during the fourth quarter. Covestor Ltd now owns 4,825 shares of the investment management company's stock worth $98,000 after buying an additional 707 shares during the last quarter. LaSalle St. Investment Advisors LLC raised its stake in shares of ASA Gold and Precious Metals by 47.5% during the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,014 shares of the investment management company's stock worth $41,000 after buying an additional 649 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of ASA Gold and Precious Metals during the fourth quarter worth approximately $346,000. Integrated Wealth Concepts LLC bought a new stake in shares of ASA Gold and Precious Metals during the fourth quarter worth approximately $372,000. Finally, Capstone Investment Advisors LLC raised its stake in shares of ASA Gold and Precious Metals by 634.3% during the fourth 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 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.