ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Purchases $919,575.80 in Stock

Key Points

• Saba Capital Management, L.P. purchased an additional 20,540 shares of ASA Gold and Precious Metals for a total of $919,575.80, increasing their ownership to over 5 million shares valued at approximately $224 million.
• ASA Gold and Precious Metals announced a semi-annual $0.03 dividend for shareholders, which will yield about 14.0%.
• The company's stock has recently traded near $46.23, with a 1-year range between $19.37 and $53.76.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. bought 20,540 shares of the firm's stock in a transaction that occurred on Wednesday, October 22nd. The shares were purchased at an average cost of $44.77 per share, for a total transaction of $919,575.80. Following the acquisition, the insider directly owned 5,009,833 shares in the company, valued at $224,290,223.41. This trade represents a 0.41% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Tuesday, October 21st, Saba Capital Management, L.P. bought 24,550 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $45.20 per share, for a total transaction of $1,109,660.00.
• On Monday, October 20th, Saba Capital Management, L.P. bought 11,566 shares of ASA Gold and Precious Metals stock. The shares were purchased 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 purchased 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 purchased 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 purchased 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 purchased 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. bought 40,943 shares of ASA Gold and Precious Metals stock. The shares were purchased 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 bought at an average cost of $48.17 per share, with a total value 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 bought at an average cost of $46.50 per share, with a total value 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 bought at an average cost of $41.78 per share, with a total value of $241,446.62.

ASA Gold and Precious Metals Price Performance

ASA stock traded up $0.99 during midday trading on Thursday, reaching $46.23. The company had a trading volume of 43,538 shares, compared to its average volume of 95,958. ASA Gold and Precious Metals Limited has a 1 year low of $19.37 and a 1 year high of $53.76. The firm has a 50-day moving average price of $42.15 and a 200-day moving average price of $35.12.

ASA Gold and Precious Metals Announces Dividend

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

Institutional Investors Weigh In On ASA Gold and Precious Metals

A number of institutional investors have recently made changes to their positions in ASA. JPMorgan Chase & Co. purchased a new stake in shares of ASA Gold and Precious Metals in the 2nd quarter valued at $61,000. Fruth Investment Management purchased a new stake in shares of ASA Gold and Precious Metals in the 1st quarter valued at $226,000. Steward Partners Investment Advisory LLC boosted its stake in shares of 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 valued at $229,000 after purchasing an additional 4,272 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of ASA Gold and Precious Metals in the 2nd quarter valued at $231,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of ASA Gold and Precious Metals in the 1st quarter valued at $235,000.

Analysts Set New Price Targets

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

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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