ASA Gold and Precious Metals (NYSE:ASA) Reaches New 1-Year High - Here's Why

Key Points

• ASA Gold and Precious Metals Limited reached a new 52-week high of $46.79 on Thursday, reflecting strong trading activity with 83,340 shares exchanged.
• The company announced a semi-annual dividend of $0.03 per share, which results in a dividend yield of 14.0%, scheduled to be paid on November 19th.
• Insider activity saw major shareholder Saba Capital Management purchase over 354,000 shares, increasing their total ownership in the company to approximately 4 million shares.

ASA Gold and Precious Metals Limited (NYSE:ASA - ) hit a new 52-week high on Thursday . The stock traded as high as $46.79 and last traded at $45.95, with a volume of 83340 shares changing hands. The stock had previously closed at $45.80.

ASA Gold and Precious Metals Stock Up 0.3%

The company has a fifty day simple moving average of $37.69 and a two-hundred day simple moving average of $33.08.

ASA Gold and Precious Metals Announces Dividend

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

Insider Activity at ASA Gold and Precious Metals

In other news, major shareholder Saba Capital Management, L.P. bought 354,169 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $35.39 per share, for a total transaction of $12,534,040.91. Following the transaction, the insider owned 4,040,715 shares of the company's stock, valued at $143,000,903.85. This represents a 9.61% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have purchased 1,352,528 shares of company stock valued at $50,291,102. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ASA. NBC Securities Inc. raised its holdings in shares of ASA Gold and Precious Metals by 128,600.0% during the 1st quarter. NBC Securities Inc. now owns 1,287 shares of the investment management company's stock worth $38,000 after buying an additional 1,286 shares in the last quarter. Matrix Trust Co raised its holdings in shares of ASA Gold and Precious Metals by 36.9% during the 1st quarter. Matrix Trust Co now owns 47,899 shares of the investment management company's stock worth $1,444,000 after buying an additional 12,911 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new position in ASA Gold and Precious Metals during the first quarter worth about $220,000. Private Advisor Group LLC raised its stake in ASA Gold and Precious Metals by 57.7% during the first quarter. Private Advisor Group LLC now owns 82,054 shares of the investment management company's stock worth $2,473,000 after acquiring an additional 30,024 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its stake in ASA Gold and Precious Metals by 3.0% during the first quarter. Blue Bell Private Wealth Management LLC now owns 116,268 shares of the investment management company's stock worth $3,504,000 after acquiring an additional 3,345 shares in the last quarter.

ASA Gold and Precious Metals Company Profile

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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