ASA Gold and Precious Metals (NYSE:ASA) Receives Buy (B) Rating from Weiss Ratings

Key Points

• ASA Gold and Precious Metals has been reaffirmed with a "buy (B)" rating by Weiss Ratings, indicating confidence from analysts in the company's stock.
• The stock price increased by $2.04 to $48.63 during mid-day trading, with significant trading volume of 182,264 shares compared to its average of 90,696 shares.
• Major shareholder Saba Capital Management increased its stake by purchasing 354,169 shares at an average price of $35.39, totaling approximately $12.53 million.

ASA Gold and Precious Metals (NYSE:ASA - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

ASA Gold and Precious Metals Stock Performance

NYSE:ASA traded up $2.04 during mid-day trading on Wednesday, hitting $48.63. 182,264 shares of the company traded hands, compared to its average volume of 90,696. The stock's fifty day moving average price is $38.79 and its 200-day moving average price is $33.61. ASA Gold and Precious Metals has a one year low of $19.37 and a one year high of $48.68.

Insider Buying and Selling at ASA Gold and Precious Metals

In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. acquired 354,169 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $35.39 per share, with a total value of $12,534,040.91. Following the completion of the purchase, the insider directly owned 4,040,715 shares in the company, valued at approximately $143,000,903.85. The trade was a 9.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 1,399,177 shares of company stock valued at $52,460,280 over the last three months. Corporate insiders own 1.69% of the company's stock.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of hedge funds have recently made changes to their positions in ASA. NBC Securities Inc. grew its holdings in 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 valued at $38,000 after buying an additional 1,286 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in ASA Gold and Precious Metals during the second quarter valued at $61,000. Wealthcare Advisory Partners LLC purchased a new stake in ASA Gold and Precious Metals during the first quarter valued at $220,000. Fruth Investment Management purchased a new stake in ASA Gold and Precious Metals during the first quarter valued at $226,000. Finally, Steward Partners Investment Advisory LLC raised its stake in ASA Gold and Precious Metals by 143.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company's stock valued at $229,000 after purchasing an additional 4,272 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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