ASA Gold and Precious Metals (NYSE:ASA) Hits New 1-Year High Following Dividend Announcement

Key Points

• ASA Gold and Precious Metals Limited's stock price reached a new 52-week high of $42.15, following a trading session with a volume of 40,587 shares.
• Insider activity included major shareholder Saba Capital Management acquiring 91,385 shares at an average price of $41.50, increasing their ownership by 2.02%.
• Recent institutional trading saw significant investments, with NBC Securities Inc. increasing its position by 128,600% during the first quarter, now owning 1,287 shares valued at $38,000.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) hit a new 52-week high during trading on Friday after the company announced a dividend. The stock traded as high as $42.08 and last traded at $42.15, with a volume of 40587 shares. The stock had previously closed at $40.97.

The newly announced dividend which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be given a $0.03 dividend. The ex-dividend date is Wednesday, November 12th. This represents a yield of 14.0%.

ASA Gold and Precious Metals Price Performance

The company has a 50-day simple moving average of $36.09 and a 200-day simple moving average of $32.26.

Insider Buying and Selling at ASA Gold and Precious Metals

In related news, major shareholder Saba Capital Management, L.P. purchased 354,169 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average cost of $35.39 per share, with a total value of $12,534,040.91. Following the completion of the acquisition, the insider directly owned 4,040,715 shares in the company, valued at $143,000,903.85. The trade was a 9.61% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 1,346,749 shares of company stock valued at $50,049,655 over the last ninety days. Insiders own 0.29% of the company's stock.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wealthcare Advisory Partners LLC purchased a new stake in ASA Gold and Precious Metals during the first quarter valued at about $220,000. Atria Wealth Solutions Inc. acquired a new position in shares of ASA Gold and Precious Metals in the first quarter worth about $235,000. Cetera Investment Advisers lifted its stake in shares of ASA Gold and Precious Metals by 223.9% in the first quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock worth $5,692,000 after acquiring an additional 130,547 shares in the last quarter. 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 valued at $2,473,000 after buying an additional 30,024 shares in the last quarter. Finally, Matrix Trust Co raised its stake in ASA Gold and Precious Metals by 36.9% during the first quarter. Matrix Trust Co now owns 47,899 shares of the investment management company's stock valued at $1,444,000 after buying an additional 12,911 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.