ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Acquires 5,779 Shares

Key Points

• Saba Capital Management, L.P. acquired an additional 5,779 shares of ASA Gold and Precious Metals on September 19th, raising its total ownership to approximately 4.65 million shares, valued at about $194.6 million.
• ASA Gold and Precious Metals recently declared a semi-annual dividend of $0.03 per share, set to be paid on November 19th, representing a yield of 14.0%.
• The company’s stock saw a 0.8% increase recently, reaching $43.86, with trading volumes significantly above average.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 5,779 shares of the stock in a transaction on Friday, September 19th. The stock was acquired at an average price of $41.78 per share, for a total transaction of $241,446.62. Following the completion of the purchase, the insider directly owned 4,656,677 shares in the company, valued at approximately $194,555,965.06. The trade was a 0.12% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 Thursday, September 18th, Saba Capital Management, L.P. acquired 9,200 shares of ASA Gold and Precious Metals stock. The stock was acquired 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 stock was acquired at an average price 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 purchased at an average price of $41.39 per share, with a total value 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 stock was acquired at an average cost 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 stock was acquired at an average price of $40.40 per share, with a total value of $3,889,954.40.
• On Wednesday, September 10th, Saba Capital Management, L.P. acquired 19,126 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $40.34 per share, with a total value of $771,542.84.
• On Tuesday, September 9th, Saba Capital Management, L.P. acquired 31,225 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $40.06 per share, with a total value 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 stock was acquired at an average cost of $40.50 per share, for a total transaction of $992,655.00.
• On Wednesday, September 3rd, Saba Capital Management, L.P. acquired 30,460 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $38.88 per share, for a total transaction of $1,184,284.80.

ASA Gold and Precious Metals Stock Up 0.8%

ASA traded up $0.36 during trading on Tuesday, reaching $43.86. The company had a trading volume of 181,266 shares, compared to its average volume of 87,763. The business has a 50 day simple moving average of $36.09 and a 200-day simple moving average of $32.26. ASA Gold and Precious Metals Limited has a 52 week low of $19.37 and a 52 week high of $44.63.

ASA Gold and Precious Metals Announces Dividend

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

Hedge Funds Weigh In On ASA Gold and Precious Metals

Hedge funds have recently modified their holdings of the business. Sessa Capital IM L.P. raised its position in 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 in the last quarter. Medici Capital LLC purchased a new position in shares of ASA Gold and Precious Metals in the 2nd quarter valued at approximately $5,238,000. Cetera Investment Advisers boosted its stake in shares of ASA Gold and Precious Metals by 223.9% in the first quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock valued at $5,692,000 after buying an additional 130,547 shares in the last quarter. Sprott Inc. boosted its stake in shares of ASA Gold and Precious Metals by 74.9% in the first quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock valued at $8,445,000 after buying an additional 120,000 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in ASA Gold and Precious Metals during the second quarter worth $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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