ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires $2,169,178.50 in Stock

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ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 46,649 shares of ASA Gold and Precious Metals stock in a transaction dated Tuesday, October 7th. The shares were purchased at an average cost of $46.50 per share, with a total value of $2,169,178.50. Following the acquisition, the insider owned 4,703,326 shares of the company's stock, valued at approximately $218,704,659. This trade represents a 1.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 Friday, September 19th, Saba Capital Management, L.P. purchased 5,779 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $41.78 per share, with a total value of $241,446.62.
• On Thursday, September 18th, Saba Capital Management, L.P. purchased 9,200 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $40.64 per share, with a total value of $373,888.00.
• On Wednesday, September 17th, Saba Capital Management, L.P. purchased 16,670 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $41.30 per share, with a total value of $688,471.00.
• On Tuesday, September 16th, Saba Capital Management, L.P. purchased 91,385 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $41.50 per share, with a total value of $3,792,477.50.
• On Monday, September 15th, Saba Capital Management, L.P. acquired 17,256 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $41.39 per share, for a total transaction of $714,225.84.
• On Friday, September 12th, Saba Capital Management, L.P. acquired 109,206 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $40.91 per share, for a total transaction of $4,467,617.46.
• On Thursday, September 11th, Saba Capital Management, L.P. bought 96,286 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $40.40 per share, for a total transaction of $3,889,954.40.
• On Wednesday, September 10th, Saba Capital Management, L.P. bought 19,126 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $40.34 per share, for a total transaction of $771,542.84.
• On Tuesday, September 9th, Saba Capital Management, L.P. bought 31,225 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $40.06 per share, for a total transaction of $1,250,873.50.
• On Monday, September 8th, Saba Capital Management, L.P. bought 24,510 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $40.50 per share, for a total transaction of $992,655.00.

ASA Gold and Precious Metals Stock Up 3.6%

ASA Gold and Precious Metals stock traded up $1.67 during trading hours on Wednesday, hitting $48.26. 126,911 shares of the company traded hands, compared to its average volume of 90,397. The firm's 50-day simple moving average is $38.79 and its two-hundred day simple moving average is $33.61. ASA Gold and Precious Metals Limited has a 1-year low of $19.37 and a 1-year high of $48.62.

ASA Gold and Precious Metals Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 14.0%.

Wall Street Analyst Weigh In

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

Institutional Trading of ASA Gold and Precious Metals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sessa Capital IM L.P. increased its holdings in shares of 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 valued at $31,647,000 after purchasing an additional 378,327 shares during the period. Medici Capital LLC acquired a new position in shares of ASA Gold and Precious Metals in the 2nd quarter valued at about $5,238,000. Cetera Investment Advisers increased its holdings in shares of ASA Gold and Precious Metals by 223.9% in the 1st quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock valued at $5,692,000 after purchasing an additional 130,547 shares during the period. Sprott Inc. increased its holdings in shares of ASA Gold and Precious Metals by 74.9% in the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock valued at $8,445,000 after purchasing an additional 120,000 shares during the period. Finally, Wolverine Asset Management LLC acquired a new position in shares of ASA Gold and Precious Metals in the 2nd quarter valued at about $1,213,000.

About ASA Gold and Precious Metals

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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