Matrix Trust Co Cuts Position in ASA Gold and Precious Metals Limited $ASA

Key Points

• Matrix Trust Co cut its stake in ASA Gold and Precious Metals by 86.9% in Q4, selling 26,270 shares and ending the period with 3,958 shares valued at $236,000.
• Major shareholder Saba Capital Management purchased 83,533 shares at an average $69.69 ($5.82M), boosting its holding to 5,853,141 shares; insiders bought 538,103 shares last quarter (about $37.0M) and now own 1.69% of the company.
• ASA shares opened at $57 and were down 4.7%, trading in a 12‑month range of $24.00 to $83.20 with a 50‑day/200‑day moving average of $69.18/$57.11.

Matrix Trust Co trimmed its stake in ASA Gold and Precious Metals Limited (NYSE:ASA - Free Report) by 86.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,958 shares of the investment management company's stock after selling 26,270 shares during the period. Matrix Trust Co's holdings in ASA Gold and Precious Metals were worth $236,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Walleye Capital LLC grew its stake in 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 valued at $785,000 after purchasing an additional 341 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of ASA Gold and Precious Metals by 4.4% during the third quarter. Integrated Wealth Concepts LLC now owns 16,110 shares of the investment management company's stock valued at $738,000 after buying an additional 681 shares during the last quarter. Advisory Services Network LLC purchased a new stake in shares of ASA Gold and Precious Metals during the third quarter valued at about $55,000. JPMorgan Chase & Co. boosted its holdings in shares of ASA Gold and Precious Metals by 64.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,199 shares of the investment management company's stock valued at $147,000 after buying an additional 1,257 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ASA Gold and Precious Metals by 19.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,295 shares of the investment management company's stock valued at $511,000 after buying an additional 1,326 shares in the last quarter.

Insider Transactions 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 on Thursday, February 12th. The stock was bought at an average cost of $69.69 per share, for a total transaction of $5,821,414.77. Following the completion of the purchase, the insider owned 5,853,141 shares in the company, valued at $407,905,396.29. This represents a 1.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders bought 538,103 shares of company stock worth $37,020,435. Corporate insiders own 1.69% of the company's stock.

Analyst Upgrades and Downgrades

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

ASA Gold and Precious Metals Trading Down 4.7%

Shares of ASA opened at $57.00 on Friday. ASA Gold and Precious Metals Limited has a 12 month low of $24.00 and a 12 month high of $83.20. The stock has a fifty day moving average price of $69.18 and a 200-day moving average price of $57.11.

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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