Insider Buying: ASA Gold and Precious Metals (NYSE:ASA) Major Shareholder Purchases 7,542 Shares of Stock

Key Points

• Saba Capital Management, L.P. bought 7,542 shares of ASA on Dec. 8 at an average price of $52.40, bringing its holding to 5,304,798 shares valued at about $278 million (transaction disclosed in an SEC filing).
• Across a series of trades from mid‑November to early December, Saba accumulated roughly 115,000 additional shares of ASA, buying at prices generally between about $47 and $53 per share.
• ASA shares traded up 3.7% to $54.03 on the day, the company recently paid a semi‑annual $0.03 dividend (reported as a 12.0% yield), and Weiss Ratings reiterated a "Buy" rating.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. purchased 7,542 shares of the firm's stock in a transaction on Monday, December 8th. The shares were acquired at an average price of $52.40 per share, with a total value of $395,200.80. Following the completion of the acquisition, the insider owned 5,304,798 shares in the company, valued at approximately $277,971,415.20. This trade represents a 0.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own more than 10% 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 Friday, December 5th, Saba Capital Management, L.P. acquired 8,002 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $53.22 per share, for a total transaction of $425,866.44.
• On Thursday, December 4th, Saba Capital Management, L.P. bought 15,408 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $52.87 per share, for a total transaction of $814,620.96.
• On Wednesday, December 3rd, Saba Capital Management, L.P. bought 9,576 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average cost of $53.37 per share, with a total value of $511,071.12.
• On Tuesday, December 2nd, Saba Capital Management, L.P. purchased 8,078 shares of ASA Gold and Precious Metals stock. The stock was acquired at an average cost of $52.82 per share, for a total transaction of $426,679.96.
• On Monday, December 1st, Saba Capital Management, L.P. purchased 9,560 shares of ASA Gold and Precious Metals stock. The shares were acquired at an average price of $53.46 per share, for a total transaction of $511,077.60.
• On Tuesday, November 25th, Saba Capital Management, L.P. acquired 7,283 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $48.75 per share, with a total value of $355,046.25.
• On Friday, November 21st, Saba Capital Management, L.P. bought 9,784 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $46.94 per share, for a total transaction of $459,260.96.
• On Thursday, November 20th, Saba Capital Management, L.P. bought 27,496 shares of ASA Gold and Precious Metals stock. The shares were bought at an average cost of $47.41 per share, for a total transaction of $1,303,585.36.
• On Wednesday, November 19th, Saba Capital Management, L.P. purchased 10,094 shares of ASA Gold and Precious Metals stock. The stock was bought at an average price of $48.16 per share, with a total value of $486,127.04.
• On Tuesday, November 18th, Saba Capital Management, L.P. acquired 2,268 shares of ASA Gold and Precious Metals stock. The shares were bought at an average price of $47.20 per share, for a total transaction of $107,049.60.

ASA Gold and Precious Metals Stock Up 3.7%

ASA stock traded up $1.95 during trading on Tuesday, reaching $54.03. 36,035 shares of the stock were exchanged, compared to its average volume of 94,143. ASA Gold and Precious Metals Limited has a twelve month low of $19.37 and a twelve month high of $54.69. The firm's 50 day moving average is $48.16 and its 200 day moving average is $39.70.

ASA Gold and Precious Metals Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th were paid a $0.03 dividend. This represents a dividend yield of 12.0%. The ex-dividend date of this dividend was Wednesday, November 12th.

Hedge Funds Weigh In On ASA Gold and Precious Metals

A number of hedge funds and other institutional investors have recently modified their holdings of ASA. Sessa Capital IM L.P. boosted its holdings in ASA Gold and Precious Metals by 56.3% in the 1st quarter. Sessa Capital IM L.P. now owns 1,050,000 shares of the investment management company's stock worth $31,647,000 after buying an additional 378,327 shares during the period. Almitas Capital LLC purchased a new stake in shares of ASA Gold and Precious Metals during the third quarter worth $15,359,000. Sprott Inc. boosted its holdings in shares of ASA Gold and Precious Metals by 74.9% in 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 period. Medici Capital LLC purchased a new position in shares of ASA Gold and Precious Metals in the second quarter valued at $5,238,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of ASA Gold and Precious Metals in the third quarter valued at $6,411,000.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b+)" rating on shares of ASA Gold and Precious Metals in a research report on Monday, December 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, ASA Gold and Precious Metals has a consensus rating of "Buy".

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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