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

Key Points

• ASA shares passed above their 50‑day moving average
• The company announced a $0.04 dividend payable May 13 (ex‑dividend May 1), which represents a 13.0% yield.
• Major shareholder Saba Capital Management bought 50,560 shares at $71.50 (0.86% increase), bringing its stake to about 5.9 million shares; insiders purchased 438,339 shares last quarter and now own 1.69% of the stock.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report)'s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $68.08 and traded as high as $70.21. ASA Gold and Precious Metals shares last traded at $69.4960, with a volume of 57,531 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of ASA Gold and Precious Metals in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy".

ASA Gold and Precious Metals Stock Down 0.5%

The company has a 50 day moving average price of $68.08 and a 200-day moving average price of $60.01.

ASA Gold and Precious Metals Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, May 13th. Investors of record on Friday, May 1st will be issued a $0.04 dividend. The ex-dividend date is Friday, May 1st. This represents a yield of 13.0%.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. bought 50,560 shares of ASA Gold and Precious Metals stock in a transaction that occurred on Friday, February 13th. The shares were acquired at an average cost of $71.50 per share, for a total transaction of $3,615,040.00. Following the completion of the acquisition, the insider directly owned 5,903,701 shares of the company's stock, valued at approximately $422,114,621.50. The trade was a 0.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders purchased 438,339 shares of company stock valued at $30,853,483 in the last quarter. Corporate insiders own 1.69% of the company's stock.

Institutional Trading of ASA Gold and Precious Metals

Several institutional investors have recently added to or reduced their stakes in ASA. WHI TRUST Co LLC bought a new stake in ASA Gold and Precious Metals in the fourth quarter valued at approximately $30,000. Advisory Services Network LLC bought a new stake in ASA Gold and Precious Metals in the third quarter valued at approximately $55,000. Kestra Advisory Services LLC bought a new stake in ASA Gold and Precious Metals in the fourth quarter valued at approximately $58,000. JPMorgan Chase & Co. bought a new stake in ASA Gold and Precious Metals in the second quarter valued at approximately $61,000. Finally, Farther Finance Advisors LLC bought a new stake in ASA Gold and Precious Metals in the fourth quarter valued at approximately $95,000.

About ASA Gold and Precious Metals

ASA Gold & Precious Metals Limited, trading on the New York Stock Exchange under the ticker ASA, is a closed-end investment company dedicated to providing shareholders with targeted exposure to the precious metals sector. Established in 1959 and domiciled in Guernsey, the company aims to combine dividend income with the potential for long-term capital appreciation by investing in a diversified suite of gold, silver, platinum and palladium assets.

The firm’s core activities involve constructing and managing a portfolio that blends equity positions in precious metals mining companies with direct holdings of physical bullion.

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