ASA Gold and Precious Metals (NYSE:ASA) Hits New 1-Year High - Here's What Happened

Key Points

• ASA Gold and Precious Metals Limited's stock reached a new 52-week high of $37.37 recently, reflecting strong trading activity with a volume of 124,046 shares.
• Major shareholder Saba Capital Management significantly increased its holding by purchasing 354,169 shares at an average cost of $35.39 per share, raising their stake by 9.61%.
• Institutional investments have surged, with several hedge funds reporting new acquisitions and significant increases in their positions in ASA Gold and Precious Metals.

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $37.37 and last traded at $37.15, with a volume of 124046 shares trading hands. The stock had previously closed at $37.18.

ASA Gold and Precious Metals Stock Performance

The company's 50-day simple moving average is $33.51 and its 200 day simple moving average is $30.65.

Insider Buying and Selling at ASA Gold and Precious Metals

In other news, major shareholder Saba Capital Management, L.P. bought 7,520 shares of ASA Gold and Precious Metals stock in a transaction dated Monday, August 25th. The shares were acquired at an average price of $36.51 per share, with a total value of $274,555.20. Following the completion of the purchase, the insider owned 4,085,154 shares in the company, valued at $149,148,972.54. The trade was a 0.18% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 831,317 shares of company stock valued at $29,214,692 over the last quarter. Corporate insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in ASA Gold and Precious Metals in the 2nd quarter worth about $383,000. Dymon Asia Capital Singapore PTE. LTD. purchased a new position in ASA Gold and Precious Metals in the 2nd quarter worth about $370,000. Walleye Capital LLC increased its stake in ASA Gold and Precious Metals by 1.4% in the 2nd quarter. Walleye Capital LLC now owns 24,871 shares of the investment management company's stock worth $785,000 after buying an additional 341 shares during the period. Laurel Wealth Advisors LLC increased its stake in ASA Gold and Precious Metals by 3,057.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 31,570 shares of the investment management company's stock worth $1,000,000 after buying an additional 30,570 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in ASA Gold and Precious Metals by 143.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company's stock worth $229,000 after buying an additional 4,272 shares during the period.

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.