ASA Gold and Precious Metals (NYSE:ASA) Reaches New 52-Week High - Time to Buy?

Key Points

• ASA Gold and Precious Metals' share price hit a new 52-week high of $44.63, closing last at $44.51 with a trading volume of 81,530 shares.
• The company announced a semi-annual dividend of $0.03 per share, representing a yield of 14.0%, to be paid to stockholders on November 19th.
• Insider purchasing activity is notable, with Saba Capital Management acquiring 354,169 shares, increasing their ownership by 9.61%, and insiders have bought 1,352,528 shares totaling over $50 million in value in recent months.

ASA Gold and Precious Metals Limited (NYSE:ASA - )'s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $44.63 and last traded at $44.51, with a volume of 81530 shares trading hands. The stock had previously closed at $43.01.

ASA Gold and Precious Metals Stock Performance

The stock has a 50 day simple moving average of $36.74 and a 200-day simple moving average of $32.55.

ASA Gold and Precious Metals Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, November 19th. Stockholders 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 of this dividend is Wednesday, November 12th.

Insider Buying and Selling at ASA Gold and Precious Metals

In related news, major shareholder Saba Capital Management, L.P. acquired 354,169 shares of the stock in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $35.39 per share, with a total value of $12,534,040.91. Following the transaction, the insider directly owned 4,040,715 shares in the company, valued at approximately $143,000,903.85. This represents a 9.61% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders bought 1,352,528 shares of company stock worth $50,291,102. 0.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASA. Sessa Capital IM L.P. boosted its position in shares of ASA Gold and Precious Metals by 56.3% during 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 acquiring an additional 378,327 shares during the last quarter. Medici Capital LLC bought a new position in shares of ASA Gold and Precious Metals during the 2nd quarter valued at approximately $5,238,000. Cetera Investment Advisers boosted its position in shares of ASA Gold and Precious Metals by 223.9% during the 1st quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock valued at $5,692,000 after acquiring an additional 130,547 shares during the last quarter. Sprott Inc. boosted its position in shares of ASA Gold and Precious Metals by 74.9% during the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock valued at $8,445,000 after acquiring an additional 120,000 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of ASA Gold and Precious Metals during the 2nd quarter valued at approximately $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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