ASA Gold and Precious Metals (NYSE:ASA) Share Price Passes Above 50 Day Moving Average - Should You Sell?

Key Points

• ASA Gold and Precious Metals' share price recently surpassed its **50-day moving average** of $41.94, trading at **$44.92** with a high of **$47.55** during the session.
• The company will pay a **semi-annual dividend** of **$0.03 per share** on November 19th, translating to a **14.0% dividend yield** for investors.
• Major shareholder **Saba Capital Management** acquired **11,566 shares** at an average price of **$50.10**, increasing their stake to **4,964,743 shares** valued at approximately **$248.7 million**.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $41.94 and traded as high as $47.55. ASA Gold and Precious Metals shares last traded at $44.92, with a volume of 323,413 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of ASA Gold and Precious Metals in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy".

ASA Gold and Precious Metals Stock Performance

The business has a 50-day moving average price of $41.94 and a two-hundred day moving average price of $35.05.

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. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a dividend yield of 14.0%.

Insider Buying and Selling at ASA Gold and Precious Metals

In related news, major shareholder Saba Capital Management, L.P. acquired 11,566 shares of the business's stock in a transaction dated Monday, October 20th. The shares were acquired at an average price of $50.10 per share, with a total value of $579,456.60. Following the completion of the transaction, the insider owned 4,964,743 shares of the company's stock, valued at $248,733,624.30. The trade was a 0.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 1,554,822 shares of company stock worth $60,031,723 over the last 90 days. 1.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several large investors have recently bought and sold shares of the business. Zazove Associates LLC purchased a new position in ASA Gold and Precious Metals in the third quarter valued at $811,000. Osaic Holdings Inc. grew its holdings in shares of ASA Gold and Precious Metals by 128.4% during the second quarter. Osaic Holdings Inc. now owns 18,728 shares of the investment management company's stock worth $591,000 after purchasing an additional 10,528 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of ASA Gold and Precious Metals during the second quarter worth about $383,000. Dymon Asia Capital Singapore PTE. LTD. purchased a new position in shares of ASA Gold and Precious Metals during the second quarter worth about $370,000. Finally, Walleye Capital LLC grew its holdings in shares of ASA Gold and Precious Metals by 1.4% during the second quarter. Walleye Capital LLC now owns 24,871 shares of the investment management company's stock worth $785,000 after purchasing an additional 341 shares during 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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