Saba Capital Management, L.P. Acquires 91,385 Shares of ASA Gold and Precious Metals (NYSE:ASA) Stock

Key Points

• Saba Capital Management, L.P. acquired 91,385 shares of ASA Gold and Precious Metals stock at an average price of $41.50 per share, totaling approximately $3.79 million, increasing their holdings to over 4.62 million shares valued at around $191.94 million.
• In addition to the latest acquisition, Saba Capital Management engaged in multiple transactions on preceding days, cumulatively increasing their stake in ASA Gold and Precious Metals significantly within a short period.
• As of September 17, ASA Gold and Precious Metals shares increased by 1.5%, trading at $41.53, with notable trading volume and a substantial price increase from its 12-month low of $19.37.

ASA Gold and Precious Metals Limited (NYSE:ASA - Get Free Report) major shareholder Saba Capital Management, L.P. bought 91,385 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was purchased at an average cost of $41.50 per share, for a total transaction of $3,792,477.50. Following the completion of the transaction, the insider directly owned 4,625,028 shares of the company's stock, valued at approximately $191,938,662. The trade was a 2.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 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 Monday, September 15th, Saba Capital Management, L.P. bought 17,256 shares of ASA Gold and Precious Metals stock. The stock was 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 stock was bought 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 stock was bought 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. acquired 19,126 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $40.34 per share, for a total transaction 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 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 stock was bought at an average cost of $40.50 per share, for a total transaction of $992,655.00.
• On Wednesday, September 3rd, Saba Capital Management, L.P. acquired 30,460 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $38.88 per share, for a total transaction 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 bought at an average cost of $38.64 per share, for a total transaction of $2,708,973.12.
• On Monday, August 25th, Saba Capital Management, L.P. acquired 7,520 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $36.51 per share, for a total transaction of $274,555.20.
• On Friday, August 22nd, Saba Capital Management, L.P. acquired 4,620 shares of ASA Gold and Precious Metals stock. The stock was bought at an average cost of $35.97 per share, for a total transaction of $166,181.40.

ASA Gold and Precious Metals Stock Up 1.5%

Shares of NYSE ASA traded up $0.63 during trading on Wednesday, hitting $41.53. The company had a trading volume of 59,626 shares, compared to its average volume of 85,863. The stock has a 50 day simple moving average of $35.32 and a 200 day simple moving average of $31.75. ASA Gold and Precious Metals Limited has a 12 month low of $19.37 and a 12 month high of $41.89.

Hedge Funds Weigh In On ASA Gold and Precious Metals

Several institutional investors have recently added to or reduced their stakes in ASA. Osaic Holdings Inc. boosted its holdings in shares of ASA Gold and Precious Metals by 128.4% in the 2nd quarter. Osaic Holdings Inc. now owns 18,728 shares of the investment management company's stock worth $591,000 after purchasing an additional 10,528 shares during the period. Jane Street Group LLC bought a new stake in ASA Gold and Precious Metals during the 2nd quarter valued at $383,000. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in ASA Gold and Precious Metals during the 2nd quarter valued at $370,000. Walleye Capital LLC raised its position in shares of ASA Gold and Precious Metals by 1.4% in the 2nd quarter. Walleye Capital LLC now owns 24,871 shares of the investment management company's stock worth $785,000 after acquiring an additional 341 shares in the last quarter. Finally, Laurel Wealth Advisors LLC raised its position in shares of ASA Gold and Precious Metals by 3,057.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 31,570 shares of the investment management company's stock worth $1,000,000 after acquiring an additional 30,570 shares in the last quarter.

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.

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