ASA Gold and Precious Metals (NYSE:ASA) Sees Unusually-High Trading Volume on Insider Buying Activity

Key Points

• ASA Gold and Precious Metals experienced a significant increase in trading volume, with approximately 163,638 shares changing hands, marking a 97% rise from the previous session.
• Major shareholder Saba Capital Management, L.P. made multiple insider purchases, acquiring a total of 74,861 shares over several days, increasing their ownership stake in the company.
• Institutional investments also rose, with various hedge funds adjusting their positions in ASA Gold and Precious Metals, indicating increased investor interest.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) shares saw unusually-high trading volume on Thursday after an insider bought additional shares in the company. Approximately 163,638 shares were traded during trading, an increase of 97% from the previous session's volume of 82,899 shares.The stock last traded at $40.51 and had previously closed at $40.27.

Specifically, major shareholder Saba Capital Management, L.P. bought 19,126 shares of the firm's stock in a transaction on Wednesday, September 10th. The shares were bought at an average cost of $40.34 per share, for a total transaction of $771,542.84. Following the transaction, the insider owned 4,310,895 shares of the company's stock, valued at approximately $173,901,504.30. This trade represents a 0.45% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Saba Capital Management, L.P. bought 31,225 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were bought at an average price of $40.06 per share, for a total transaction of $1,250,873.50. Following the completion of the transaction, the insider directly owned 4,291,769 shares in the company, valued at approximately $171,928,266.14. This represents a 0.73% increase in their position. The disclosure for this purchase can be found here. In other news, major shareholder Saba Capital Management, L.P. purchased 24,510 shares of the business's stock in a transaction dated Monday, September 8th. The stock was acquired at an average price of $40.50 per share, with a total value of $992,655.00. Following the purchase, the insider directly owned 4,260,544 shares of the company's stock, valued at $172,552,032. This represents a 0.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

ASA Gold and Precious Metals Stock Performance

The firm has a 50 day moving average price of $35.13 and a 200-day moving average price of $31.69.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. raised its stake 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 during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of ASA Gold and Precious Metals during the 2nd quarter worth $61,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of ASA Gold and Precious Metals during the 2nd quarter worth $231,000. Steward Partners Investment Advisory LLC raised its stake 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 buying an additional 4,272 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of ASA Gold and Precious Metals during the 1st quarter worth $220,000.

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.