ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Buys $714,225.84 in Stock

Key Points

• Major shareholder Saba Capital Management, L.P. bought 17,256 shares of ASA Gold and Precious Metals stock at an average price of $41.39 each, totaling approximately $714,225.
• This purchase increased Saba's ownership in ASA Gold and Precious Metals by 0.38%, bringing their total shares owned to over 4.5 million.
• The stock is currently trading at $41.53, with a one-year price range between $19.37 and $41.89.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 17,256 shares of the company's stock in a transaction on Monday, September 15th. The shares were purchased at an average cost of $41.39 per share, with a total value of $714,225.84. Following the completion of the purchase, the insider directly owned 4,533,643 shares of the company's stock, valued at $187,647,483.77. This trade represents a 0.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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. acquired 9,200 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $40.64 per share, with a total value of $373,888.00.
• On Wednesday, September 17th, Saba Capital Management, L.P. acquired 16,670 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average cost of $41.30 per share, with a total value of $688,471.00.
• On Tuesday, September 16th, Saba Capital Management, L.P. bought 91,385 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $41.50 per share, with a total value of $3,792,477.50.
• On Friday, September 12th, Saba Capital Management, L.P. bought 109,206 shares of ASA Gold and Precious Metals stock. The shares were acquired 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. acquired 96,286 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price 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 purchased at an average price of $40.34 per share, with a total value of $771,542.84.
• On Tuesday, September 9th, Saba Capital Management, L.P. acquired 31,225 shares of ASA Gold and Precious Metals stock. The stock was purchased 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 stock was bought 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 bought 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. bought 70,108 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $38.64 per share, for a total transaction of $2,708,973.12.

ASA Gold and Precious Metals Price Performance

ASA traded up $1.38 on Friday, hitting $42.35. The company had a trading volume of 109,580 shares, compared to its average volume of 166,519. The stock has a fifty day moving average price of $35.87 and a 200-day moving average price of $32.05. ASA Gold and Precious Metals Limited has a 12-month low of $19.37 and a 12-month high of $42.57.

ASA Gold and Precious Metals Announces Dividend

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

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. grew its stake in 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 last quarter. Sprott Inc. grew its stake 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 acquiring an additional 130,547 shares during the last quarter. Medici Capital LLC purchased a new stake in shares of ASA Gold and Precious Metals during the second quarter worth about $5,238,000. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of ASA Gold and Precious Metals by 3.0% during the first quarter. Blue Bell Private Wealth Management LLC now owns 116,268 shares of the investment management company's stock worth $3,504,000 after acquiring 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.