Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Buys 31,225 Shares of Stock

Key Points

• Major shareholder Saba Capital Management, L.P. purchased 31,225 shares of ASA Gold and Precious Metals stock at an average price of $40.06, totaling over $1.25 million.
• Following this transaction, Saba Capital's ownership increased to 4.29 million shares, valued at approximately $171.9 million.
• ASA Gold and Precious Metals stock recently traded up 0.6%, reaching $40.51, with a significant increase in trading volume compared to its average.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 31,225 shares of ASA Gold and Precious Metals stock in a transaction on Tuesday, September 9th. The stock was bought at an average cost of $40.06 per share, with a total value of $1,250,873.50. Following the transaction, the insider directly owned 4,291,769 shares of the company's stock, valued at approximately $171,928,266.14. The trade was a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, September 12th, Saba Capital Management, L.P. acquired 109,206 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $40.91 per share, for a total transaction of $4,467,617.46.
• On Thursday, September 11th, Saba Capital Management, L.P. acquired 96,286 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $40.40 per share, for a total transaction of $3,889,954.40.
• On Wednesday, September 10th, Saba Capital Management, L.P. acquired 19,126 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $40.34 per share, for a total transaction of $771,542.84.
• On Monday, September 8th, Saba Capital Management, L.P. acquired 24,510 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $40.50 per share, for a total transaction of $992,655.00.
• On Wednesday, September 3rd, Saba Capital Management, L.P. acquired 30,460 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $38.88 per share, for a total transaction of $1,184,284.80.
• On Tuesday, September 2nd, Saba Capital Management, L.P. acquired 70,108 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $38.64 per share, for a total transaction of $2,708,973.12.
• On Monday, August 25th, Saba Capital Management, L.P. acquired 7,520 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $36.51 per share, for a total transaction of $274,555.20.
• On Friday, August 22nd, Saba Capital Management, L.P. acquired 4,620 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $35.97 per share, for a total transaction of $166,181.40.
• On Thursday, August 21st, Saba Capital Management, L.P. acquired 610 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average price of $35.05 per share, for a total transaction of $21,380.50.
• On Tuesday, August 19th, Saba Capital Management, L.P. purchased 9,943 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $33.99 per share, for a total transaction of $337,962.57.

ASA Gold and Precious Metals Trading Down 0.7%

ASA traded down $0.30 on Tuesday, hitting $41.16. 148,862 shares of the stock traded hands, compared to its average volume of 85,622. ASA Gold and Precious Metals Limited has a 52 week low of $19.37 and a 52 week high of $41.89. The business has a fifty day moving average price of $35.13 and a two-hundred day moving average price of $31.69.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NBC Securities Inc. increased its stake in ASA Gold and Precious Metals by 128,600.0% during the first quarter. NBC Securities Inc. now owns 1,287 shares of the investment management company's stock valued at $38,000 after acquiring an additional 1,286 shares during the period. JPMorgan Chase & Co. bought a new position in ASA Gold and Precious Metals during the second quarter valued at about $61,000. Wealth Enhancement Advisory Services LLC bought a new position in ASA Gold and Precious Metals during the second quarter valued at about $231,000. Steward Partners Investment Advisory LLC increased its stake in ASA Gold and Precious Metals by 143.4% during the second quarter. Steward Partners Investment Advisory LLC now owns 7,252 shares of the investment management company's stock valued at $229,000 after acquiring an additional 4,272 shares during the period. Finally, Wealthcare Advisory Partners LLC bought a new position in ASA Gold and Precious Metals during the first quarter valued at about $220,000.

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.