Saba Capital Management, L.P. Purchases 327,900 Shares of ASA Gold and Precious Metals Limited (NYSE:ASA) Stock

Key Points

• Saba Capital Management, L.P. purchased 327,900 shares of ASA Gold and Precious Metals at an average price of $35.00, totaling approximately $11.5 million, increasing their total holdings in the company to nearly 3.7 million shares.
• The acquisition has led to a 9.76% increase in Saba Capital's position, reflecting strong investor confidence in ASA Gold and Precious Metals.
• Following this transaction, ASA’s stock price is currently hovering around $35.19, with a noticeable increase in interest from various institutional investors.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 327,900 shares of the business's stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $35.00 per share, for a total transaction of $11,476,500.00. Following the transaction, the insider owned 3,686,546 shares of the company's stock, valued at $129,029,110. This trade represents a 9.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Wednesday, August 13th, Saba Capital Management, L.P. bought 1,836 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $35.11 per share, for a total transaction 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 stock was bought at an average price of $35.39 per share, for a total transaction of $12,534,040.91.
• On Friday, August 8th, Saba Capital Management, L.P. bought 35,777 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price 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 bought at an average price of $34.73 per share, for a total transaction of $2,397,481.36.

ASA Gold and Precious Metals Trading Up 1.8%

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. LaSalle St. Investment Advisors LLC boosted its stake in shares of ASA Gold and Precious Metals by 47.5% in the fourth quarter. LaSalle St. Investment Advisors LLC now owns 2,014 shares of the investment management company's stock valued at $41,000 after buying an additional 649 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of ASA Gold and Precious Metals in the fourth quarter valued at approximately $346,000. Integrated Wealth Concepts LLC purchased a new stake in shares of ASA Gold and Precious Metals in the fourth quarter valued at approximately $372,000. Capstone Investment Advisors LLC boosted its stake in shares of ASA Gold and Precious Metals by 634.3% in the fourth quarter. Capstone Investment Advisors LLC now owns 266,221 shares of the investment management company's stock valued at $5,383,000 after buying an additional 229,968 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of ASA Gold and Precious Metals by 2.6% in the fourth quarter. Cetera Investment Advisers now owns 58,308 shares of the investment management company's stock valued at $1,179,000 after buying an additional 1,500 shares in the last quarter.

ASA Gold and Precious Metals Company Profile

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.