Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Buys 16,670 Shares of Stock

Key Points

• Saba Capital Management, L.P. purchased 16,670 shares of ASA Gold and Precious Metals at an average price of $41.30, totaling approximately $688,471.
• The company announced a $0.03 dividend to be paid on November 19th, representing a yield of 14.0%.
• ASA Gold and Precious Metals stock recently traded at $42.35, showing a significant increase from its 1-year low of $19.37.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. bought 16,670 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were acquired at an average price of $41.30 per share, for a total transaction of $688,471.00. Following the completion of the acquisition, the insider owned 4,641,698 shares in the company, valued at $191,702,127.40. This represents a 0.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Thursday, September 18th, Saba Capital Management, L.P. acquired 9,200 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $40.64 per share, with a total value of $373,888.00.
• On Tuesday, September 16th, Saba Capital Management, L.P. purchased 91,385 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $41.50 per share, with a total value of $3,792,477.50.
• On Monday, September 15th, Saba Capital Management, L.P. bought 17,256 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $41.39 per share, for a total transaction of $714,225.84.
• On Friday, September 12th, Saba Capital Management, L.P. bought 109,206 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $40.91 per share, with a total value of $4,467,617.46.
• On Thursday, September 11th, Saba Capital Management, L.P. bought 96,286 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $40.40 per share, for a total transaction of $3,889,954.40.
• On Wednesday, September 10th, Saba Capital Management, L.P. bought 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 Tuesday, September 9th, Saba Capital Management, L.P. purchased 31,225 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $40.06 per share, for a total transaction of $1,250,873.50.
• On Monday, September 8th, Saba Capital Management, L.P. acquired 24,510 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $40.50 per share, with a total value of $992,655.00.
• On Wednesday, September 3rd, Saba Capital Management, L.P. bought 30,460 shares of ASA Gold and Precious Metals stock. The shares were bought 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. purchased 70,108 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $38.64 per share, for a total transaction of $2,708,973.12.

ASA Gold and Precious Metals Price Performance

NYSE:ASA traded up $1.08 during trading hours on Monday, hitting $43.45. 225,724 shares of the stock were exchanged, compared to its average volume of 170,491. The firm's fifty day moving average price is $36.09 and its 200 day moving average price is $32.26. ASA Gold and Precious Metals Limited has a 52-week low of $19.37 and a 52-week high of $43.71.

ASA Gold and Precious Metals Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, November 12th. This represents a yield of 14.0%.

Institutional Investors Weigh In On ASA Gold and Precious Metals

A number of hedge funds have recently modified their holdings of ASA. Wealthcare Advisory Partners LLC acquired a new position in ASA Gold and Precious Metals during the first quarter worth about $220,000. Atria Wealth Solutions Inc. acquired a new stake in shares of ASA Gold and Precious Metals in the 1st quarter worth $235,000. Cetera Investment Advisers raised its holdings in shares of ASA Gold and Precious Metals by 223.9% during the 1st quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock worth $5,692,000 after acquiring an additional 130,547 shares during the period. Private Advisor Group LLC boosted its position in shares of ASA Gold and Precious Metals by 57.7% during the 1st quarter. Private Advisor Group LLC now owns 82,054 shares of the investment management company's stock valued at $2,473,000 after acquiring an additional 30,024 shares during the last quarter. Finally, Sessa Capital IM L.P. grew its holdings in shares of ASA Gold and Precious Metals by 56.3% in the first quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company's stock valued at $31,647,000 after purchasing an additional 378,327 shares during the period.

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.