Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Purchases $373,888.00 in Stock

Key Points

• Saba Capital Management, L.P. acquired a total of $373,888 in ASA Gold and Precious Metals stock on September 18, increasing their stake to approximately 4.65 million shares, valued at around $189 million.
• ASA Gold and Precious Metals recently declared a dividend of $0.03 per share, to be paid on November 19, representing a dividend yield of 14.0%.
• The company's stock increased by 3.4% on the trading day, reaching a price of $42.35, with its 12-month high being $42.57.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. bought 9,200 shares of the stock in a transaction dated Thursday, September 18th. The stock was bought at an average price of $40.64 per share, with a total value of $373,888.00. Following the purchase, the insider owned 4,650,898 shares of the company's stock, valued at approximately $189,012,494.72. This represents a 0.20% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 Wednesday, September 17th, Saba Capital Management, L.P. acquired 16,670 shares of ASA Gold and Precious Metals stock. The stock was 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. acquired 91,385 shares of ASA Gold and Precious Metals stock. The shares were purchased at an average price of $41.50 per share, for a total transaction 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, for a total transaction of $714,225.84.
• On Friday, September 12th, Saba Capital Management, L.P. acquired 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. bought 96,286 shares of ASA Gold and Precious Metals stock. The shares were acquired 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 shares were bought 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. bought 31,225 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost 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. purchased 30,460 shares of ASA Gold and Precious Metals stock. The stock was purchased at an average price of $38.88 per share, with a total value 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 purchased at an average cost of $38.64 per share, with a total value of $2,708,973.12.

ASA Gold and Precious Metals Trading Up 3.4%

NYSE ASA traded up $1.38 on Friday, hitting $42.35. 109,580 shares of the stock traded hands, compared to its average volume of 86,507. ASA Gold and Precious Metals Limited has a twelve month low of $19.37 and a twelve month high of $42.57. The stock has a 50-day moving average of $35.68 and a 200 day moving average of $31.93.

ASA Gold and Precious Metals Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, November 19th. Stockholders 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 dividend yield of 14.0%.

Institutional Trading of ASA Gold and Precious Metals

Large investors have recently modified their holdings of the company. Sessa Capital IM L.P. boosted its stake in ASA Gold and Precious Metals by 56.3% during the 1st 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. Medici Capital LLC bought a new stake in shares of ASA Gold and Precious Metals during the second quarter valued at approximately $5,238,000. Cetera Investment Advisers boosted its position 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 buying an additional 130,547 shares during the period. Sprott Inc. grew its holdings in ASA Gold and Precious Metals by 74.9% in the 1st quarter. Sprott Inc. now owns 280,183 shares of the investment management company's stock worth $8,445,000 after buying an additional 120,000 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in ASA Gold and Precious Metals in the 2nd quarter valued at approximately $1,213,000.

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.

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