ASA Gold and Precious Metals Limited $ASA is Twelve Points Wealth Management LLC's 2nd Largest Position

Key Points

• Twelve Points Wealth Management cut its stake in ASA by 3.7% but still holds 460,916 shares, making ASA its 2nd largest position at about 6.4% of the fund and valued at roughly $28.5 million.
• ASA declared a $0.04 dividend payable on May 13 with an ex-dividend/record date of May 1, which represents a 13.0% dividend yield.
• Major shareholder Saba Capital bought 83,533 shares (a 1.45% increase), and insiders have purchased 480,927 shares over the past 90 days, leaving insiders owning about 1.69% of the company.

Twelve Points Wealth Management LLC decreased its position in shares of ASA Gold and Precious Metals Limited (NYSE:ASA - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 460,916 shares of the investment management company's stock after selling 17,904 shares during the period. ASA Gold and Precious Metals accounts for approximately 6.4% of Twelve Points Wealth Management LLC's portfolio, making the stock its 2nd biggest position. Twelve Points Wealth Management LLC owned about 2.44% of ASA Gold and Precious Metals worth $28,512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ASA. Almitas Capital LLC purchased a new stake in shares of ASA Gold and Precious Metals during the 3rd quarter worth about $15,359,000. Landscape Capital Management L.L.C. acquired a new stake in shares of ASA Gold and Precious Metals in the third quarter worth about $6,411,000. Noble Wealth Management PBC lifted its stake in shares of ASA Gold and Precious Metals by 61.7% in the fourth quarter. Noble Wealth Management PBC now owns 73,354 shares of the investment management company's stock worth $4,377,000 after buying an additional 27,987 shares during the last quarter. Zazove Associates LLC bought a new stake in shares of ASA Gold and Precious Metals during the 3rd quarter worth $811,000. Finally, Jane Street Group LLC bought a new stake in shares of ASA Gold and Precious Metals during the 2nd quarter worth $383,000.

ASA Gold and Precious Metals Stock Performance

Shares of NYSE:ASA opened at $67.25 on Friday. The company's fifty day moving average is $67.79 and its 200-day moving average is $58.79. ASA Gold and Precious Metals Limited has a 52 week low of $27.86 and a 52 week high of $83.20.

ASA Gold and Precious Metals Dividend Announcement

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

Analysts Set New Price Targets

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

Insider Activity at ASA Gold and Precious Metals

In other ASA Gold and Precious Metals news, major shareholder Saba Capital Management, L.P. purchased 83,533 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were acquired at an average cost of $69.69 per share, for a total transaction of $5,821,414.77. Following the transaction, the insider directly owned 5,853,141 shares in the company, valued at approximately $407,905,396.29. The trade was a 1.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders purchased 480,927 shares of company stock valued at $33,590,944. 1.69% of the stock is owned by insiders.

ASA Gold and Precious Metals Company Profile

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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