ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Saba Capital Management, L.P. Acquires 16,670 Shares

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. acquired 16,670 shares of ASA Gold and Precious Metals stock in a transaction on Wednesday, September 17th. The stock was acquired at an average cost of $41.30 per share, for a total transaction of $688,471.00. Following the completion of the purchase, the insider owned 4,641,698 shares of the company's stock, valued at approximately $191,702,127.40. The trade was a 0.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% 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 Thursday, September 18th, Saba Capital Management, L.P. bought 9,200 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $40.64 per share, for a total transaction of $373,888.00.
• On Tuesday, September 16th, Saba Capital Management, L.P. acquired 91,385 shares of ASA Gold and Precious Metals stock. The stock was bought 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 purchased at an average cost of $41.39 per share, with a total value of $714,225.84.
• On Friday, September 12th, Saba Capital Management, L.P. purchased 109,206 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost 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 shares were purchased at an average cost of $40.40 per share, with a total value 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 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 acquired at an average price of $40.06 per share, with a total value of $1,250,873.50.
• On Monday, September 8th, Saba Capital Management, L.P. bought 24,510 shares of ASA Gold and Precious Metals stock. The shares were purchased 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. bought 30,460 shares of ASA Gold and Precious Metals stock. The stock was 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 shares were bought at an average cost of $38.64 per share, with a total value of $2,708,973.12.

ASA Gold and Precious Metals Stock Performance

ASA Gold and Precious Metals stock traded up $0.63 during trading hours on Monday, reaching $43.00. The stock had a trading volume of 26,338 shares, compared to its average volume of 86,135. The business's 50 day moving average price is $35.87 and its 200-day moving average price is $32.14. ASA Gold and Precious Metals Limited has a 52 week low of $19.37 and a 52 week high of $43.20.

ASA Gold and Precious Metals Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ASA. Sessa Capital IM L.P. increased its holdings in shares of ASA Gold and Precious Metals by 56.3% during 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. Sprott Inc. raised its position in shares of ASA Gold and Precious Metals by 74.9% during the first quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock worth $8,445,000 after acquiring an additional 120,000 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of ASA Gold and Precious Metals by 223.9% during the first quarter. Cetera Investment Advisers now owns 188,855 shares of the investment management company's stock worth $5,692,000 after purchasing an additional 130,547 shares during the period. Medici Capital LLC acquired a new position in shares of ASA Gold and Precious Metals during the second quarter worth about $5,238,000. Finally, Blue Bell Private Wealth Management LLC increased its position in shares of ASA Gold and Precious Metals by 3.0% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 116,268 shares of the investment management company's stock worth $3,504,000 after purchasing an additional 3,345 shares during the last quarter.

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.