ASA Gold and Precious Metals (NYSE:ASA) Stock Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• ASA Gold and Precious Metals (NYSE:ASA) recently surpassed its 50-day moving average of $39.45 during trading, reaching a peak of $49.14 before settling at $46.60.
• The company announced a semi-annual dividend of $0.03 per share, which represents a significant yield of 14.0%, scheduled for payment on November 19th.
• Weiss Ratings has reaffirmed a "buy" rating for the stock, reflecting positive consensus among analysts with one investment analyst rating it as a buy.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $39.45 and traded as high as $49.14. ASA Gold and Precious Metals shares last traded at $46.60, with a volume of 271,929 shares.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "buy (b)" rating on shares of ASA Gold and Precious Metals in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy".

ASA Gold and Precious Metals Trading Down 4.1%

The stock's 50-day moving average is $39.45 and its two-hundred day moving average is $33.84.

ASA Gold and Precious Metals Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.03 per share. This represents a yield of 14.0%. The ex-dividend date of this dividend is Wednesday, November 12th.

Insider Buying and Selling

In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. bought 23,813 shares of ASA Gold and Precious Metals stock in a transaction on Wednesday, October 8th. The stock was acquired at an average cost of $48.17 per share, with a total value of $1,147,072.21. Following the completion of the acquisition, the insider owned 4,727,139 shares in the company, valued at approximately $227,706,285.63. This represents a 0.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 1,422,990 shares of company stock worth $53,607,353 over the last three months. 1.69% of the stock is currently owned by corporate insiders.

Institutional Trading of ASA Gold and Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC increased its stake in shares of ASA Gold and Precious Metals by 1.4% in 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 in the last quarter. NBC Securities Inc. increased its stake 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 worth $38,000 after purchasing an additional 1,286 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of ASA Gold and Precious Metals in the second quarter worth $61,000. Atria Wealth Solutions Inc. increased its stake 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 worth $320,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of ASA Gold and Precious Metals by 3.0% in the first quarter. Blue Bell Private Wealth Management LLC now owns 116,268 shares of the investment management company's stock worth $3,504,000 after purchasing an additional 3,345 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.

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