ASA Gold and Precious Metals Limited (NYSE:ASA) Major Shareholder Acquires $2,397,481.36 in 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. bought 69,032 shares of ASA Gold and Precious Metals stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average cost of $34.73 per share, for a total transaction of $2,397,481.36. Following the acquisition, the insider owned 3,322,869 shares of the company's stock, valued at $115,403,240.37. This represents a 2.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more 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 Monday, August 11th, Saba Capital Management, L.P. acquired 327,900 shares of ASA Gold and Precious Metals stock. The shares were bought 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 acquired at an average cost of $35.22 per share, for a total transaction of $1,260,065.94.

ASA Gold and Precious Metals Stock Performance

NYSE:ASA traded down $0.17 during midday trading on Wednesday, reaching $35.09. The stock had a trading volume of 5,528 shares, compared to its average volume of 74,024. The firm has a fifty day simple moving average of $32.88 and a two-hundred day simple moving average of $29.52. ASA Gold and Precious Metals Limited has a 12-month low of $18.24 and a 12-month high of $35.60.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Hedge funds and other institutional investors have recently bought and sold shares of the company. NBC Securities Inc. grew its position in ASA Gold and Precious Metals by 128,600.0% in the 1st quarter. NBC Securities Inc. now owns 1,287 shares of the investment management company's stock valued at $38,000 after buying an additional 1,286 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter worth $61,000. LaSalle St. Investment Advisors LLC boosted its position in shares of ASA Gold and Precious Metals by 47.5% during the 4th quarter. LaSalle St. Investment Advisors LLC now owns 2,014 shares of the investment management company's stock worth $41,000 after purchasing an additional 649 shares in the last quarter. Covestor Ltd boosted its position in shares of ASA Gold and Precious Metals by 17.2% during the 4th quarter. Covestor Ltd now owns 4,825 shares of the investment management company's stock worth $98,000 after purchasing an additional 707 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter worth $231,000.

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.