Saba Capital Management, L.P. Acquires 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 dated Monday, August 11th. The shares were purchased at an average cost of $35.00 per share, with a total value of $11,476,500.00. Following the acquisition, the insider owned 3,686,546 shares in the company, valued at $129,029,110. This trade represents a 9.76% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 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 Wednesday, August 13th, Saba Capital Management, L.P. acquired 1,836 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $35.11 per share, with a total value of $64,461.96.
• On Tuesday, August 12th, Saba Capital Management, L.P. purchased 354,169 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $35.39 per share, with a total value of $12,534,040.91.
• On Friday, August 8th, Saba Capital Management, L.P. acquired 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.
• On Thursday, August 7th, Saba Capital Management, L.P. acquired 69,032 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $34.73 per share, for a total transaction of $2,397,481.36.

ASA Gold and Precious Metals Stock Up 1.8%

Shares of ASA traded up $0.60 during trading hours on Friday, reaching $34.39. 119,692 shares of the stock traded hands, compared to its average volume of 132,520. The stock has a fifty day simple moving average of $32.91 and a 200 day simple moving average of $29.72. ASA Gold and Precious Metals Limited has a 52 week low of $18.51 and a 52 week high of $35.60.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several large investors have recently modified their holdings of ASA. Sessa Capital IM L.P. raised its holdings in ASA Gold and Precious Metals by 56.3% in the 1st 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 in the last quarter. Capstone Investment Advisors LLC grew its position in ASA Gold and Precious Metals by 634.3% during the 4th quarter. Capstone Investment Advisors LLC now owns 266,221 shares of the investment management company's stock valued at $5,383,000 after purchasing an additional 229,968 shares during the last quarter. Medici Capital LLC purchased a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter valued at about $5,238,000. Cetera Investment Advisers boosted its holdings in shares of ASA Gold and Precious Metals by 223.9% during the 1st quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock valued at $5,692,000 after acquiring an additional 130,547 shares during the last quarter. Finally, Sprott Inc. boosted its holdings in shares of ASA Gold and Precious Metals by 74.9% during the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock valued at $8,445,000 after acquiring an additional 120,000 shares during 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.