ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Buys 11,566 Shares

Key Points

• Major shareholder Saba Capital Management, L.P. purchased 11,566 shares of ASA Gold and Precious Metals at an average price of $50.10 per share, increasing their total holdings to approximately $248.7 million.
• ASA Gold and Precious Metals announced a $0.03 semi-annual dividend to be paid on November 19th, representing a yield of 14.0%.
• Wall Street analysts have a consensus rating of "Buy" on ASA Gold and Precious Metals stocks, with Weiss Ratings reaffirming their buy rating recently.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 11,566 shares of the stock in a transaction dated Monday, October 20th. The shares were bought at an average price of $50.10 per share, with a total value of $579,456.60. Following the completion of the acquisition, the insider directly owned 4,964,743 shares of the company's stock, valued at approximately $248,733,624.30. This represents a 0.23% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Wednesday, October 15th, Saba Capital Management, L.P. purchased 13,170 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $51.71 per share, with a total value of $681,020.70.
• On Tuesday, October 14th, Saba Capital Management, L.P. purchased 31,833 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $50.01 per share, with a total value of $1,591,968.33.
• On Monday, October 13th, Saba Capital Management, L.P. purchased 8,437 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $49.02 per share, with a total value 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, with a total value 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, with a total value of $1,940,288.77.
• On Wednesday, October 8th, Saba Capital Management, L.P. bought 23,813 shares of ASA Gold and Precious Metals stock. The shares were purchased 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. bought 46,649 shares of ASA Gold and Precious Metals stock. The shares were purchased 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. bought 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. bought 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. bought 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.

ASA Gold and Precious Metals Price Performance

NYSE ASA traded down $5.00 during mid-day trading on Tuesday, reaching $45.12. 114,637 shares of the stock were exchanged, compared to its average volume of 94,571. ASA Gold and Precious Metals Limited has a one year low of $19.37 and a one year high of $53.76. The stock has a 50 day simple moving average of $41.75 and a 200-day simple moving average of $34.98.

ASA Gold and Precious Metals Dividend Announcement

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.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On ASA Gold and Precious Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sessa Capital IM L.P. lifted its stake in ASA Gold and Precious Metals by 56.3% in the first 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 buying an additional 378,327 shares during the last quarter. Medici Capital LLC purchased a new position in ASA Gold and Precious Metals in the second quarter worth $5,238,000. Cetera Investment Advisers raised its position in 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 worth $5,692,000 after acquiring an additional 130,547 shares in the last quarter. Sprott Inc. raised its position in 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 worth $8,445,000 after acquiring an additional 120,000 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new position in ASA Gold and Precious Metals in 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.