ASA Gold and Precious Metals (NYSE:ASA) Hits New 12-Month High After Insider Buying Activity

Key Points

• ASA Gold and Precious Metals Limited's shares hit a new 52-week high of $41.24 following significant insider buying from major shareholder Saba Capital Management, L.P.
• The insider made multiple purchases totaling 19,126 shares at an average price of $40.34 per share, increasing their stake by 0.45% and bringing their total ownership to approximately $173.9 million.
• Several hedge funds, including Cetera Investment Advisers and Sessa Capital IM L.P., have also recently increased their stakes in ASA, indicating growing institutional interest in the company.

Shares of ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) reached a new 52-week high during trading on Friday after an insider bought additional shares in the company. The company traded as high as $41.24 and last traded at $40.89, with a volume of 6960 shares traded. The stock had previously closed at $40.71.

Specifically, major shareholder Saba Capital Management, L.P. bought 19,126 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was acquired at an average cost of $40.34 per share, with a total value of $771,542.84. Following the purchase, the insider owned 4,310,895 shares in the company, valued at approximately $173,901,504.30. This represents a 0.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Saba Capital Management, L.P. bought 31,225 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average cost of $40.06 per share, with a total value of $1,250,873.50. Following the completion of the purchase, the insider owned 4,291,769 shares in the company, valued at approximately $171,928,266.14. This represents a 0.73% increase in their position. The disclosure for this purchase can be found here. In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. bought 24,510 shares of the business's stock in a transaction dated Monday, September 8th. The stock was acquired at an average cost of $40.50 per share, with a total value of $992,655.00. Following the purchase, the insider owned 4,260,544 shares in the company, valued at approximately $172,552,032. This represents a 0.58% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ASA Gold and Precious Metals Stock Performance

The business has a 50 day moving average price of $34.77 and a 200-day moving average price of $31.36.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several hedge funds have recently bought and sold shares of ASA. Cetera Investment Advisers increased its stake in ASA Gold and Precious Metals by 2.6% in the 4th quarter. Cetera Investment Advisers now owns 58,308 shares of the investment management company's stock valued at $1,179,000 after purchasing an additional 1,500 shares in the last quarter. Sessa Capital IM L.P. increased its stake in ASA Gold and Precious Metals by 22.1% in the 4th quarter. Sessa Capital IM L.P. now owns 671,673 shares of the investment management company's stock valued at $13,581,000 after purchasing an additional 121,673 shares in the last quarter. NBC Securities Inc. increased its stake 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 purchasing an additional 1,286 shares in the last quarter. Matrix Trust Co increased its stake in ASA Gold and Precious Metals by 36.9% in the 1st quarter. Matrix Trust Co now owns 47,899 shares of the investment management company's stock valued at $1,444,000 after purchasing an additional 12,911 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC purchased a new position in ASA Gold and Precious Metals in the 1st quarter valued at approximately $220,000.

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.

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