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

Key Points

• ASA Gold and Precious Metals saw a significant trading volume increase of 187% after major shareholder Saba Capital Management acquired 35,777 shares for approximately $1.26 million.
• Following its latest acquisitions, Saba Capital Management now owns 3,358,646 shares of ASA, valued at around $118 million, representing a 1.08% increase in their ownership.
• Institutional investors have also shown increased interest, with Sessa Capital boosting its stake by 56.3% and Capstone Investment Advisors by 634.3% in recent quarters.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) shares saw an uptick in trading volume on Monday following insider buying activity. 201,343 shares changed hands during mid-day trading, an increase of 187% from the previous session's volume of 70,068 shares.The stock last traded at $35.03 and had previously closed at $35.12.

Specifically, major shareholder Saba Capital Management, L.P. purchased 35,777 shares of ASA Gold and Precious Metals stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $35.22 per share, with a total value of $1,260,065.94. Following the completion of the transaction, the insider owned 3,358,646 shares in the company, valued at approximately $118,291,512.12. This trade represents a 1.08% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Saba Capital Management, L.P. purchased 69,032 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average price of $34.73 per share, for a total transaction of $2,397,481.36. Following the acquisition, the insider owned 3,322,869 shares in the company, valued at $115,403,240.37. This trade represents a 2.12% increase in their position. The disclosure for this purchase can be found here.

ASA Gold and Precious Metals Stock Performance

The firm's fifty day moving average price is $32.91 and its two-hundred day moving average price is $29.72.

Institutional Trading of ASA Gold and Precious Metals

A number of institutional investors and hedge funds have recently modified their holdings of ASA. Walleye Capital LLC grew its stake in ASA Gold and Precious Metals by 1.4% during the 2nd quarter. Walleye Capital LLC now owns 24,871 shares of the investment management company's stock valued at $785,000 after acquiring an additional 341 shares in the last quarter. NBC Securities Inc. grew its position in shares of ASA Gold and Precious Metals by 128,600.0% in the first quarter. NBC Securities Inc. now owns 1,287 shares of the investment management company's stock valued at $38,000 after purchasing an additional 1,286 shares in the last quarter. Cetera Investment Advisers grew its position in shares of ASA Gold and Precious Metals by 2.6% in the fourth quarter. Cetera Investment Advisers now owns 58,308 shares of the investment management company's stock valued at $1,179,000 after purchasing an additional 1,500 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of ASA Gold and Precious Metals in the second quarter valued at approximately $61,000. Finally, Atria Wealth Solutions Inc. grew its position in shares of ASA Gold and Precious Metals by 30.1% in the second quarter. Atria Wealth Solutions Inc. now owns 10,145 shares of the investment management company's stock valued at $320,000 after purchasing an additional 2,350 shares in the last quarter.

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.