Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Acquires 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 the business's stock in a transaction on Tuesday, September 9th. The shares were bought at an average price of $40.06 per share, for a total transaction of $1,250,873.50. Following the acquisition, the insider owned 4,291,769 shares in the company, valued at $171,928,266.14. This trade represents a 0.73% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

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

• On Wednesday, September 10th, Saba Capital Management, L.P. acquired 19,126 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $40.34 per share, with a total value 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 shares were acquired at an average cost of $40.50 per share, with a total value 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 shares were acquired at an average cost of $38.88 per share, with a total value of $1,184,284.80.
• On Tuesday, September 2nd, Saba Capital Management, L.P. bought 70,108 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $38.64 per share, with a total value of $2,708,973.12.
• On Monday, August 25th, Saba Capital Management, L.P. bought 7,520 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $36.51 per share, with a total value of $274,555.20.
• On Friday, August 22nd, Saba Capital Management, L.P. bought 4,620 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $35.97 per share, with a total value of $166,181.40.
• On Thursday, August 21st, Saba Capital Management, L.P. bought 610 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average cost of $35.05 per share, with a total value of $21,380.50.
• On Tuesday, August 19th, Saba Capital Management, L.P. acquired 9,943 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $33.99 per share, with a total value of $337,962.57.
• On Monday, August 18th, Saba Capital Management, L.P. acquired 1,600 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $34.46 per share, with a total value of $55,136.00.
• On Friday, August 15th, Saba Capital Management, L.P. acquired 10,000 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $34.53 per share, with a total value of $345,300.00.

ASA Gold and Precious Metals Stock Up 0.6%

ASA Gold and Precious Metals stock traded up $0.24 during mid-day trading on Thursday, reaching $40.51. 163,638 shares of the company were exchanged, compared to its average volume of 82,899. The firm's 50-day simple moving average is $34.60 and its two-hundred day simple moving average is $31.25. ASA Gold and Precious Metals Limited has a twelve month low of $19.25 and a twelve month high of $40.97.

Institutional Investors Weigh In On ASA Gold and Precious Metals

Large investors have recently bought and sold shares of the stock. NBC Securities Inc. boosted its holdings in shares of 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 worth $38,000 after purchasing an additional 1,286 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of ASA Gold and Precious Metals during the second quarter worth $61,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of ASA Gold and Precious Metals during the first quarter worth $220,000. Fruth Investment Management acquired a new stake in shares of ASA Gold and Precious Metals during the first quarter worth $226,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of 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 worth $229,000 after purchasing an additional 4,272 shares during the last quarter.

About ASA Gold and Precious Metals

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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