ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Buys 10,397 Shares

Key Points

• Saba Capital Management bought 10,397 ASA shares on Dec. 10 at $54.09 (≈$562,374) and now holds 5,315,195 shares valued at about $287.5M, a 0.20% increase in its position.
• Saba has been actively accumulating ASA with multiple purchases in Nov–Dec (including a 27,496‑share buy), coinciding with the stock rising to $56.71 (up 3.3%) and trading near its 12‑month high of $56.89.
• ASA paid a semi‑annual dividend of $0.03 per share (reported yield 12.0%) and carries a MarketBeat/Weiss Ratings consensus of Buy.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 10,397 shares of the company's stock in a transaction that occurred on Wednesday, December 10th. The stock was bought at an average cost of $54.09 per share, for a total transaction of $562,373.73. Following the purchase, the insider directly owned 5,315,195 shares in the company, valued at $287,498,897.55. This represents a 0.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Monday, December 8th, Saba Capital Management, L.P. acquired 7,542 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $52.40 per share, with a total value of $395,200.80.
• On Friday, December 5th, Saba Capital Management, L.P. purchased 8,002 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $53.22 per share, for a total transaction of $425,866.44.
• On Thursday, December 4th, Saba Capital Management, L.P. bought 15,408 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $52.87 per share, with a total value of $814,620.96.
• On Wednesday, December 3rd, Saba Capital Management, L.P. bought 9,576 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $53.37 per share, for a total transaction of $511,071.12.
• On Tuesday, December 2nd, Saba Capital Management, L.P. bought 8,078 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $52.82 per share, for a total transaction of $426,679.96.
• On Monday, December 1st, Saba Capital Management, L.P. acquired 9,560 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $53.46 per share, with a total value of $511,077.60.
• On Tuesday, November 25th, Saba Capital Management, L.P. purchased 7,283 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $48.75 per share, for a total transaction of $355,046.25.
• On Friday, November 21st, Saba Capital Management, L.P. acquired 9,784 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $46.94 per share, for a total transaction of $459,260.96.
• On Thursday, November 20th, Saba Capital Management, L.P. bought 27,496 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $47.41 per share, for a total transaction of $1,303,585.36.
• On Wednesday, November 19th, Saba Capital Management, L.P. bought 10,094 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $48.16 per share, with a total value of $486,127.04.

ASA Gold and Precious Metals Trading Up 3.3%

ASA traded up $1.79 during trading on Thursday, hitting $56.71. The company's stock had a trading volume of 36,918 shares, compared to its average volume of 94,501. The firm's 50 day moving average price is $48.49 and its two-hundred day moving average price is $39.96. ASA Gold and Precious Metals Limited has a 12 month low of $19.37 and a 12 month high of $56.89.

ASA Gold and Precious Metals Dividend Announcement

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a yield of 12.0%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in shares of ASA Gold and Precious Metals during the third quarter worth approximately $55,000. JPMorgan Chase & Co. bought a new position in ASA Gold and Precious Metals during the 2nd quarter worth $61,000. Savant Capital LLC acquired a new position in ASA Gold and Precious Metals in the 3rd quarter valued at $220,000. Fruth Investment Management bought a new stake in shares of ASA Gold and Precious Metals during the 1st quarter valued at $226,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of ASA Gold and Precious Metals by 143.4% during the 2nd 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 in the last quarter.

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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