Sessa Capital IM L.P. Grows Stake in ASA Gold and Precious Metals Limited $ASA

Key Points

• Sessa Capital IM L.P. increased its position in ASA Gold and Precious Metals Limited by 56.3%, owning 1,050,000 shares valued at approximately $31.6 million.
• Other institutional investors, such as Wealthcare Advisory Partners LLC and Atria Wealth Solutions Inc., also established new stakes in the company during the first quarter.
• Major shareholder Saba Capital Management purchased 354,169 shares at an average cost of $35.39, increasing its ownership by 9.61%.

Sessa Capital IM L.P. increased its holdings in shares of ASA Gold and Precious Metals Limited (NYSE:ASA - Free Report) by 56.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,050,000 shares of the investment management company's stock after acquiring an additional 378,327 shares during the period. ASA Gold and Precious Metals makes up about 1.2% of Sessa Capital IM L.P.'s portfolio, making the stock its 16th largest holding. Sessa Capital IM L.P. owned 4.88% of ASA Gold and Precious Metals worth $31,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Walleye Capital LLC increased its stake in shares of ASA Gold and Precious Metals by 43.4% in the 1st quarter. Walleye Capital LLC now owns 24,530 shares of the investment management company's stock valued at $739,000 after purchasing an additional 7,419 shares in the last quarter. Sprott Inc. increased its stake in shares of ASA Gold and Precious Metals by 74.9% in the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock valued at $8,445,000 after purchasing an additional 120,000 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of ASA Gold and Precious Metals in the 1st quarter valued at about $235,000. Cetera Investment Advisers increased its stake in shares of ASA Gold and Precious Metals by 223.9% in the 1st quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock valued at $5,692,000 after purchasing an additional 130,547 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 1st quarter. Blue Bell Private Wealth Management LLC now owns 116,268 shares of the investment management company's stock valued at $3,504,000 after purchasing an additional 3,345 shares in the last quarter.

ASA Gold and Precious Metals Price Performance

Shares of ASA Gold and Precious Metals stock traded up $0.02 on Friday, hitting $40.73. The company's stock had a trading volume of 201,881 shares, compared to its average volume of 84,125. The firm has a fifty day moving average price of $34.77 and a 200-day moving average price of $31.36. ASA Gold and Precious Metals Limited has a 1 year low of $19.37 and a 1 year high of $41.24.

Insider Activity at ASA Gold and Precious Metals

In related news, major shareholder Saba Capital Management, L.P. bought 19,126 shares of the business's stock in a transaction dated Wednesday, September 10th. The stock was acquired at an average price of $40.34 per share, with a total value of $771,542.84. Following the completion of the purchase, the insider directly owned 4,310,895 shares of the company's stock, valued at approximately $173,901,504.30. This trade represents a 0.45% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought a total of 1,006,746 shares of company stock worth $36,123,021 over the last three months. 0.29% of the stock is owned by insiders.

ASA Gold and Precious Metals 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.