ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires $1,109,660.00 in Stock

Key Points

• Saba Capital Management, L.P. acquired 24,550 shares of ASA Gold and Precious Metals stock for a total of $1,109,660 on October 21st, increasing their ownership by 0.49% to nearly 5 million shares valued at approximately $225 million.
• ASA Gold and Precious Metals declared a semi-annual dividend of $0.03, with a yield of 14.0%, set to be paid on November 19th to stockholders of record on November 12th.
• Analysts maintain a consensus "Buy" rating for ASA Gold and Precious Metals, with endorsements from firms like Weiss Ratings, suggesting positive future growth prospects.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. bought 24,550 shares of the stock in a transaction on Tuesday, October 21st. The shares were acquired at an average cost of $45.20 per share, for a total transaction of $1,109,660.00. Following the completion of the transaction, the insider directly owned 4,989,293 shares of the company's stock, valued at approximately $225,516,043.60. The trade was a 0.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major 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, October 22nd, Saba Capital Management, L.P. bought 20,540 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $44.77 per share, for a total transaction of $919,575.80.
• On Monday, October 20th, Saba Capital Management, L.P. bought 11,566 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $50.10 per share, for a total transaction of $579,456.60.
• On Wednesday, October 15th, Saba Capital Management, L.P. bought 13,170 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $51.71 per share, for a total transaction of $681,020.70.
• On Tuesday, October 14th, Saba Capital Management, L.P. bought 31,833 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $50.01 per share, for a total transaction of $1,591,968.33.
• On Monday, October 13th, Saba Capital Management, L.P. bought 8,437 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $49.02 per share, for a total transaction of $413,581.74.
• On Friday, October 10th, Saba Capital Management, L.P. bought 25,883 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $47.06 per share, for a total transaction of $1,218,053.98.
• On Thursday, October 9th, Saba Capital Management, L.P. purchased 40,943 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $47.39 per share, for a total transaction of $1,940,288.77.
• On Wednesday, October 8th, Saba Capital Management, L.P. purchased 23,813 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $48.17 per share, for a total transaction of $1,147,072.21.
• On Tuesday, October 7th, Saba Capital Management, L.P. purchased 46,649 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $46.50 per share, for a total transaction of $2,169,178.50.
• On Friday, September 19th, Saba Capital Management, L.P. purchased 5,779 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $41.78 per share, for a total transaction of $241,446.62.

ASA Gold and Precious Metals Trading Up 2.2%

Shares of NYSE:ASA traded up $0.99 during midday trading on Thursday, hitting $46.23. The company's stock had a trading volume of 43,538 shares, compared to its average volume of 95,958. The stock's 50 day simple moving average is $42.15 and its 200 day simple moving average is $35.12. ASA Gold and Precious Metals Limited has a fifty-two week low of $19.37 and a fifty-two week high of $53.76.

ASA Gold and Precious Metals Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th will be given a $0.03 dividend. This represents a dividend yield of 14.0%. The ex-dividend date of this dividend is Wednesday, November 12th.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of ASA Gold and Precious Metals in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy".

Institutional Investors Weigh In On ASA Gold and Precious Metals

Hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. bought a new stake in shares of ASA Gold and Precious Metals in the second quarter valued at about $61,000. HB Wealth Management LLC bought a new stake in shares of ASA Gold and Precious Metals in the third quarter valued at about $295,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of ASA Gold and Precious Metals in the second quarter valued at about $231,000. Steward Partners Investment Advisory LLC lifted its stake in ASA Gold and Precious Metals by 143.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company's stock worth $229,000 after purchasing an additional 4,272 shares during the period. Finally, Fruth Investment Management bought a new position in ASA Gold and Precious Metals during the first quarter worth about $226,000.

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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